IT services company, L&T Infotech (LTI), part of Larsen & Toubro Group has announced its net profit of Rs 496.8 crore for the quarter ended June 30, up 19.3% on-year. Revenue for the three-month period increased 17.4% to Rs 3,462.5 crore.
In the first quarter of financial year 2022, the company has added 2,300 employees with a total headcount of 38,298.
The company will hire about 4,500 freshers during the current financial year, compared to 3,000 last year. The attrition rate for the quarter has increased to 15.2% compared to 12.3% in the previous quarter Q4FY21
Sanjay Jalona, CEO & MD, L&T Infotech said, “We are pleased to report our best ever Q1 sequential growth of 5.1% driven by holistic growth across our verticals, service lines, client pyramid, and geographies. Our healthy pipeline and continued strong demand make us confident of our future growth.”
“Over these past 5 years, we have delivered USD revenue CAGR of 13.5% and more than doubled our net profit. I am proud of how we continue to innovate and deliver year-on-year industry-leading growth. I am also excited as we strengthen our digital engineering capabilities welcoming Cuelogic Technologies to the LTI family,” he said.
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