Homevideos Newsearnings News

    L&T Infotech sees FY19 growth to be better than FY18

    videos | IST

    L&T Infotech sees FY19 growth to be better than FY18

    Mini

    After L&T Infotech reported 46.7 percent rise in consolidated net profit to Rs 400.3 crore for the quarter ended September 2018, it said growth in FY19 would be better than FY18.

    After L&T Infotech reported 46.7 percent rise in consolidated net profit to Rs 400.3 crore for the quarter ended September 2018, it said growth in FY19 would be better than FY18.
    The company registered a net profit of Rs 273 crore in the same period a year ago, L&T Infotech said in a statement. Its revenue was up 33.1 percent to Rs 2,331.2 crore in the reported quarter from Rs 1,750.8 crore in the year-ago period.
    In an interview to CNBC-TV18, Sanjay Jalona, managing director and chief executive officer, said, "The last two quarters were good. We are confident of bouncing back in subsequent quarters and also growing faster than company growth for the year."
    Talking on margin growth, Jalona said, "The improvement of 190 basis points came from rupee depreciation and positives of 60 basis points as the company did not have to spend on visas expenses. The rest of it came from efficiencies across many levers. 140 basis points negative was because of wage hikes."
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    next story

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng