Country for PR: United Kingdom
Contributor: PR Newswire Europe
Wednesday, May 05 2021 - 02:33
LTI FY21 USD Revenues grow 9.5%; Net Profit up 27.5%, Q4 FY21 USD Revenues up 9.1% YoY
MUMBAI, India, May 5, 2021 /PRNewswire-AsiaNet/ --

Larsen & Toubro Infotech (BSE: 540005) (NSE: LTI), a global technology 
consulting and digital solutions company, announced its Q4 FY21 and full year 
FY21 results today.

Q4 FY21
In US Dollars:
-Revenue at USD 447.4 million; growth of 4.6% QoQ and 9.1% YoY 
-Constant Currency Revenue growth of 4.4% QoQ and 7.1% YoY

In Indian Rupees:
-Revenue at INR 32,694 million; growth at 3.7% QoQ and 8.5% YoY 
-Net Income at INR 5,457 million; Net Income growth at 5.1% QoQ and 27.6% YoY

Full year FY21
In US Dollars:
-Revenue at USD 1,670.1 million; growth of 9.5% YoY 
-Constant Currency Revenue growth of 8.8% YoY

In Indian Rupees:
-Revenue at INR 123,698 million; growth at 13.7% YoY 
-Net Income at INR 19,382 million; Net Income growth at 27.5% YoY

Capital Return
-Final Dividend of INR 25 per share; Dividend pay-out ratio of 36.1% for the 
-ROE of 30.5% for the year

“Supported by a strong Q4, FY21 was another year of market leading growth. We 
are happy to report revenue growth of 9.5% and net profit growth of 27.5% for 
the year. In Q4, we also won two large deals with net new TCV of USD 66 mn, 
culminating into a record large deal TCV for FY21. 

Our superior performance is a result of the untiring efforts of 35,000+ LTItes 
who stood together during one of the most trying times ensuring client 
deliveries. We will continue to invest in the strength of our business as we 
remain committed to growth in FY22 as well.” 

- Sanjay Jalona, Chief Executive Officer & Managing Director

Recent Deal Wins
-  LTI has been chosen as a long-term strategic partner in a vendor 
consolidation deal for management of core insurance platforms for a large 
Fortune 500 Insurance company. This is a unique deal which includes vendor 
consolidation and several modernization programs across multiple core areas in 
the property and casualty insurance space in North America.
-  A leading regional bank, a new logo, selected LTI for a core banking 
transformation program involving implementation of Temenos. As part of the 
program, LTI will be the lead system integrator and will replace the Bank's 
existing lending platform using the Temenos T24 platform as well as handle data 
migration from legacy systems. The implementation of this program will enable 
the bank to introduce new lending products, reduce complexities, service its 
increasing customer base in a faster and efficient manner while lowering the 
total cost of ownership. Empowered with pre-configured local functions, this 
transformation will enable the bank to cater to regulatory requirements within 
a relatively short time span and reduced efforts.

-  LTI has been selected by a US based heavy equipment manufacturing 
conglomerate for an application managed services deal for its parts business to 
enable reduction in total cost of ownership and operational excellence. 

-  A North American property and casualty mutual insurance company has 
partnered with LTI to replace its existing on-premise legacy core systems with 
a SaaS based Duck Creek solution. This engagement will accelerate client's 
digital transformation to enable better customer experience and support. It 
will also optimize operational costs and enable rapid expansion of services to 
other regions.
-  A Global Fortune 500 multinational pharma corporation has chosen LTI as its 
advisory partner to transform its finance function. LTI will play a key role in 
meeting business objectives such as data consistency by implementing effective 
data monitoring and reconciliation processes for their global business 

-  A Germany based multinational engineering conglomerate has selected LTI for 
an SAP HANA Data Lake migration project to Snowflake for its energy business 
company, to ensure significant cost savings with scaling and managing data 
analytics and increased efficiencies in the form of faster decision making. 

-  A Global Fortune 500 energy distribution company has selected LTI to support 
its SAP Customer Information System implementation for one of its acquired 
entities. The aim of this program is to digitize its meter-to-cash process and 
bring about automation in customer services to deliver operational efficiencies 
and cost reduction. 

-  A leading property and casualty insurance software and data analytics 
provider based in North America has selected LTI to migrate from their legacy 
enterprise data warehouse platform to Snowflake's data cloud in phased manner 
to ensure reduced costs, streamline processes, enhance efficiencies and 
competitive advantage. 

-  LTI has been selected to provide infrastructure support and network 
operations services to reduce costs and increase efficiencies for a leading 
distributor of specialty concrete and construction products in North America.
-  A Global Fortune 500 entertainment and media enterprise has selected LTI to 
build a global reporting platform for its digital media supply chain 
applications using Snowflake to provide enhanced visibility of complex supply, 
production and delivery workflows across the enterprise. 

-  The international branch of a leading financial services providers in the UK 
has appointed LTI as the lead systems integrator for their core banking 
modernization and transformation program. This will enable leveraging capacity 
and stability of the Cloud with Temenos SaaS to improve customer experience, 
reduce costs and bring new products to market faster and scale efficiently. 

Awards and Recognitions

-  LTI topped the list of 'IT Services Challenger 2021' in Everest Group's PEAK 
Matrix Service Provider of the YearTM Awards. LTI also improved its ranking 
from 16 last year to 11 in the overall PEAK Matrix(R) rankings for IT services 
- the highest leap registered by any player. LTI is also a Star Performer of 
the Year in Banking and Financial Services PEAK Matrix(R) Assessments

-  LTI Leni and LTI Mosaic recognized in The Forrester Tech Tide(TM): 
Enterprise Business Insights & Analytics, Q1 2021

-  LTI Recognized as a Leader in the ISG Provider Lens(TM) Intelligent 
Automation - Solutions and Services in AIOps for Midmarket - US 2020

-  LTI positioned as an Innovator in Avasant's IoT Services RadarView(TM) 
Report 2021

Other Business Highlights

-  The Board of Directors at its meeting held on May 4th, 2021 have recommended 
a final dividend of INR 25 per equity share (Face value of INR 1) for the 
financial year 2020-21. Total dividend for FY21 is INR 40 per equity share, 
including the interim dividend of INR 15 per equity share declared in October 

-  LTI appointed Anil Rander as its Chief Financial Officer. He is a seasoned 
finance leader with over 27 years of multifaceted experience in driving 
business performance and growth. He joins LTI from Tech Mahindra Ltd., where he 
was Global Head of Finance for BPS. Also, as Senior Vice President - Finance 
and Legal, he led the Finance, Legal, Facilities & Risk Management functions of 
Tech Mahindra Business Services Ltd.

-  LTI and AWS have entered into a Strategic Partnership to Accelerate 
Enterprise Cloud Adoption to expand joint offerings for Migration, 
Modernization, SAP, IoT, and Data-on-Cloud.

-  LTI is recognized as a Microsoft Azure Expert Managed Services Provider, the 
prestigious program is a global initiative by Microsoft that enables its 
leading partners to differentiate by proving real-world proficiency and skills 
in data and cloud competencies

-  LTI in the UK has been recognized with Top Employer 2021 certification, by 
the Top Employers Institute, the global authority recognizing excellence in 
people practices

About LTI

LTI (NSE: LTI) is a global technology consulting and digital solutions Company 
helping more than 400 clients succeed in a converging world. With operations in 
31 countries, we go the extra mile for our clients and accelerate their digital 
transformation with LTI's Mosaic platform enabling their mobile, social, 
analytics, IoT and cloud journeys. Founded in 1997 as a subsidiary of Larsen & 
Toubro Limited, our unique heritage gives us unrivalled real-world expertise to 
solve the most complex challenges of enterprises across all industries. Each 
day, our team of more than 34,000 LTItes enable our clients to improve the 
effectiveness of their business and technology operations and deliver value to 
their customers, employees and shareholders. Find more at or follow us at @LTI_Global.

Earnings Conference Call and Audio Webcast
May 05th, 2021 (05:30 PM IST)

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Source: LTI