LTI net profit increases 31% to Rs 378.5 cr in March quarter

Mid-size IT firm, LTI Thursday reported a 31 percent growth in its March quarter net at Rs 378.5 crore on a faster revenue accretion.

The city-headquartered company, the information technology arm of engineering giant Larsen & Toubro, reported a 36.2 percent jump in post tax profit at Rs 1,515 crore in FY19.

The overall revenues for the quarter grew 24.2 percent to Rs 2,486 crore, while the same for the entire fiscal grew 29.3 percent to Rs 9,445 crore.

TRENDING NOW

Fincare Small Finance Bank, Western Carriers get SEBI's approval to float IPO

"Must-have stock": Anil Singhvi's views on JSW Infrastructure IPO

Why are brokerage houses bullish on auto stocks?

Ashish Kacholia exits Delta Corp; stock falls nearly 6%

FII sell figure in September at Rs 20,593 crore

Gold and Silver price today (September 26, 2023): Precious metal trade under pressure; Gold helds Rs 58,630 level

RBI's MPC will not tinker interest rate, to maintain hawkish stance: Economists

FIRST TRADE: Sensex, Nifty open flat amid subdued global sentiment; Eicher Motors up over 3%

China Evergrande shares tumble for second day after unit misses bond payment

Anil Singhvi strategy September 26: Important levels to track in Nifty, Nifty Bank today

India stands for a free, open, and rules-based Indo-Pacific: Defence Minister Rajnath Singh

Traders' Diary: Buy, sell or hold strategy on Tata Consumer, Wipro, LTTS, Voltas, Polycab, over a dozen other stocks today

GST Council to meet on October 7

RBI fines SBI, Indian Bank and Punjab & Sind Bank for breach of norms: Check details

Hiring intent for freshers in travel & hospitality sector to rise 15% in second half of 2023: Report

The company's operating margin, however, declined 1.40 percent to 17.7 percent as against the 19.1 percent in the preceding quarter.

Its chief executive and managing director Sanjay Jalona explained this was due to extra hiring during the quarter and the investments which go into the same.

The utilisation levels for the company were at a very high levels, which was getting almost "unhealthy", he told

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)