Larsen & Toubro Infotech Limited Reports Unaudited Standalone and Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017; Provides Tax Rate Guidance for the Full Year of Fiscal 2018 and 2019
January 24, 2018 at 06:15 am EST
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Larsen & Toubro Infotech Limited reported unaudited standalone and consolidated earnings results for the third quarter and nine months ended December 31, 2017. For the quarter, on consolidated basis, revenue from operations was INR 18,838 million against INR 16,667 million a year ago. Profit before tax was INR 3,695 million against INR 3,147 million a year ago. Net profit after tax was INR 2,828 million against INR 2,480 million a year ago. Profit attributable to shareholders of the company was INR 2,827 million against INR 2,480 million a year ago. Diluted earnings per share were INR 16.16 against INR 14.24 a year ago. EBITDA was INR 3,215 million against INR 3,020 million a year ago. EBIT was INR 2,812 million against INR 2,550 million a year ago. Net cash from operating activities was INR 4,164 million against INR 5,603 million a year ago. Operating cash flow stood at 22.1% of total revenue for the quarter.
For nine months, on consolidated basis, revenue from operations was INR 53,053 million against INR 48,237 million a year ago. Profit before tax was INR 10,737 million against INR 9,083 million a year ago. Net profit after tax was INR 8,230 million compared to INR 7,164 million a year ago. Profit attributable to shareholders of the company was INR 8,225 million against INR 7,163 million a year ago. Diluted earnings per share were INR 47.03 against INR 41.24 a year ago.
For the quarter, on standalone basis, revenue from operations was INR 17,782 million against INR 15,937 million a year ago. Profit before tax was INR 3,473 million against INR 3,021 million a year ago. Net profit after tax was INR 2,673 million against INR 2,359 million a year ago. Diluted earnings per share were INR 15.27 against INR 13.54 a year ago.
For nine months, on standalone basis, revenue from operations was INR 50,233 million against INR 45,900 million a year ago. Profit before tax was INR 10,724 million against INR 8,754 million a year ago. Net profit after tax was INR 8,390 million against INR 6,929 million a year ago. Diluted earnings per share were INR 47.94 against INR 38.89 a year ago.
The company expects tax rates to slightly inch up, but for fiscal 2018, fiscal 2019, 23% to 25% is going to be the band where the company should be operating.
LTIMindtree Limited is an IT services company specializing in the digital optimization and transformation of businesses and organizations. The company offers solutions in the fields of cybersecurity, task automation, data management, digital infrastructures, cloud platforms, Internet of Things, artificial intelligence, etc. Net sales break down by sector of activity as follows:
- banks, financial services and insurance (36.9%);
- technology, media and entertainment (24.3%);
- industry, mining and energy (16.9%);
- retail, transport and hospitality (15.4%);
- health, life sciences and utilities (6.5%).
At the end of March 2023, LTIMindtree Limited has more than 700 customers worldwide.
Net sales are distributed geographically as follows: America (72.2%), Europe (15%) and other (12.8%).
Larsen & Toubro Infotech Limited Reports Unaudited Standalone and Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017; Provides Tax Rate Guidance for the Full Year of Fiscal 2018 and 2019