LARSEN-&-TOUBRO-INFOTECH
14.7.2022 14:36:06 CEST | Business Wire | Press release
Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q1 FY23 results today.
In US Dollars:
- Revenue at USD 580.2 million ; growth of 1.7% QoQ and 23.4% YoY
- Constant Currency Revenue growth of 2.9% QoQ and 26.6% YoY
In Indian Rupees:
- Revenue at INR 45,228 million ; growth at 5.1% QoQ and 30.6% YoY
- Net Income at INR 6,344 million ; decrease of 0.5% QoQ and growth of 27.7% YoY
“We are pleased to report 26.6% YoY revenue growth in constant currency. We added 4 Global Fortune 500 logos to our client list in Q1, taking our total Global Fortune 500 customers to 77. We are also happy to announce 4 large deal wins during the quarter with net new TCV of US$ 79mn.” |
- Sudhir Chaturvedi, President Sales & Executive Board Member |
|
“Our healthy pipeline will ensure that we maintain our large deal momentum. Our sustained net headcount addition reflects our confidence and continued focus to deliver strong growth in FY23” |
- Nachiket Deshpande, Chief Operating Officer & Executive Board Member |
Recent Deal Wins
- Selected by a Global Fortune 500 energy company for management and implementation of a safety program across their operations
- Chosen by a global organization present in over 130 countries involved with protecting human rights to transform their data management, collaboration and communication solutions, digital experience, and ERP landscape
- Engaged by a Global Fortune 500 technology company to develop, support and enhance solutions for products on their hybrid cloud and AI platforms
- One of the largest financial institutions in the Middle East has selected LTI for a multi-year managed services contract to transform their channels landscape under “Change the Bank” initiative
- A Global Fortune 500 food and services company has chosen LTI for a managed services deal to provide support and enhancements for SAP applications, Anaplan and other AWS Infrastructure and security apps
- Selected by a full-service broker as a strategic partner for managing their mission critical applications. LTI will perform development, maintenance, and production support services for applications while reducing cost and improving operational efficiency
- Selected to set up an automated and integrated governance, risk, and compliance (eGRC) solution for one of the largest Smart Cities coming up in the Middle Eastern region
- Engaged by a Global Fortune 500 technology and manufacturing company to deploy a strategic sales solution across locations to ensure an efficient and smooth sales process
- One of India’s largest private sector banks has chosen LTI for managing their Security Operations Center (SOC) using analytics and artificial intelligence for advanced threat monitoring, detection, remediation, and risk management processes
- Chosen by a key group member of an international financial organization to design and architect cloud native enterprise applications on Azure cloud platform
- Selected by a large insurance and financial services provider for implementation of Guidewire InsuranceNow platform for several new products and services rollouts to increase efficiency
Analyst Recognitions
- Fosfor by LTI Positioned as a Major Contender in Everest Group’s Intelligent Document Processing (IDP) – Technology Provider Landscape with Products PEAK Matrix® Assessment 2022
- LTI recognized in 2022 Gartner® Magic Quadrant™ for Oracle Cloud Application Services, Worldwide
- LTI recognized in The Forrester Now Tech: Cloud Migration and Managed Service Partners In Asia Pacific, Q2 2022
- LTI recognized in 2022 Gartner® Competitive Landscape: IT Service Providers to the Global Insurance Industry
Gartner, “Competitive Landscape: IT Service Providers to the Global Insurance Industry“, June 29, 2022.
Gartner, “Magic Quadrant for Oracle Cloud Application Services, Worldwide”, April 20, 2022.
GARTNER and MAGIC QUADRANT are registered trademarks and service marks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose
Awards & Other Business Highlights
- LTI has been named the GSI Global Delivery Platform Partner of the Year by Snowflake, the Data Cloud company. The award demonstrates LTI’s leadership and excellence, as an Elite Partner of Snowflake, in accelerating migrations and implementations on the Snowflake Data Cloud at speed and scale
- LTI won multiple accolades at the Institutional Investor 2022 Rest of Asia ex-Mainland China Executive Team rankings. LTI has been ranked amongst the top 3 across all sell-side categories in the Technology/IT Services & Software space. It was also recognized in the ‘Most-Honored’ Companies Asia List 2022
- LTI has been ranked among the top 5 players in the latest IT Sourcing study for the Nordic region by Whitelane Research and PA Consulting
- LTI expanded its operations by setting up a new facility in Kolkata. The new center marks company’s expansion in the Eastern region of the country and is designed to meet the requirements of a futuristic and modern workplace
About LTI:
LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 495 clients succeed in a converging world. With operations in 33 countries, we go the extra mile for our clients and accelerate their digital transformation 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 46,000 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 http://www.Lntinfotech.com or follow us at @LTI_Global .
View source version on businesswire.com: https://www.businesswire.com/news/home/20220714005462/en/
Link:
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Modon Partners With Montage Hotels & Resorts to Bring Ultra-Luxury Hospitality Brand to Egypt’s Ras El Hekma17.5.2026 13:53:00 CEST | Press release
Montage Ras El Hekma introduces the first branded residences for purchase at the Mediterranean destination, alongside the region’s first Montage resort Abu Dhabi-based Modon Holding and Montage Hotels & Resorts have announced Montage Ras El Hekma, which will introduce the first branded residences for purchase at Ras El Hekma on Egypt’s Mediterranean coast. This is the first Montage resort in Egypt – supporting the emerging city’s growth as a global hub for leisure, business and tourism. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260517167234/en/ Modon partners with Montage Hotels & Resorts to bring ultra-luxury hospitality brand to Egypt’s Ras El Hekma (Photo: AETOSWire) Montage Ras El Hekma will feature 200 guestrooms and suites, in addition to 96 Montage Residences, and will offer a curated mix of wellness and leisure amenities, including beachfront swimmable lagoons, a Spa Montage with 13 treatment rooms, and six dini
Istituto Nazionale Tumori IRCCS Fondazione G. Pascale Selects MEVION S250-FIT™ for Southern Italy’s First Proton Therapy Center17.5.2026 08:00:00 CEST | Press release
Compact, vault-integrated platform selected through a competitive European tender will bring proton therapy to patients across Southern Italy. Mevion Medical Systems, the global leader in compact proton therapy, today announced that it has been selected to deliver the MEVION S250-FIT Proton Therapy System™ to Istituto Nazionale Tumori IRCCS Fondazione G. Pascale in Naples. The award, made following a competitive European tender, will establish the first proton therapy center in Southern Italy, significantly expanding access to advanced radiation therapy for patients across the region and reducing the need for patients to travel long distances to northern Italy for care. Until now, proton therapy in Italy has only been available at centers located in Northern Italy, requiring patients from Southern Italy to travel significant distances for care. The Pascale project supports a broader strategy to establish Naples as a leading oncology hub and to improve healthcare equity across Italy. “T
TetraMem Announces 22nm Multi-Level RRAM Analog In-Memory Computing SoC Milestone16.5.2026 10:43:00 CEST | Press release
TetraMem Inc., a Silicon Valley–based semiconductor company developing analog in-memory computing (IMC) solutions, today announced the successful tape-out, manufacturing, and initial silicon validation of its MLX200 platform, a 22nm multi-level RRAM-based analog IMC system-on-chip (SoC). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260516556464/en/ Photograph of the MLX200 chip with a five-cent coin for size reference The achievement marks a significant step toward the commercialization of analog computing architectures based on emerging non-volatile memory technologies, addressing the growing challenges of data movement, power consumption, and thermal constraints in modern AI systems. As AI workloads continue to scale, system performance is increasingly constrained by the cost of moving data between memory and compute units. Analog in-memory computing offers a fundamentally different approach by performing computation dir
STARTEEPO Invest Announces 5% Stake in Xerox Holdings Corporation15.5.2026 18:15:00 CEST | Press release
STARTEEPO Invest (“STARTEEPO”), an alternative investment fund focused on public equity opportunities, today announced that it has acquired a significant ownership position in Xerox Holdings Corporation (“Xerox” or the “Company”). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260515594020/en/ As of the date of this release, STARTEEPO and its affiliates beneficially owns 6.6 million shares of Xerox (excluding options), representing approximately 5.05% of the Company’s outstanding common stock. STARTEEPO has filed a Schedule 13D with the U.S. Securities and Exchange Commission (the “SEC”) providing additional details regarding its investment. Investment Perspective STARTEEPO believes that Xerox represents an interesting investment opportunity supported by a combination of balance sheet initiatives, ongoing operational improvements, and its position within a changing and consolidating industry. In STARTEEPO’s view, the Company
NTT DATA Announces Intent to Acquire WinWire to Scale Enterprise AI Adoption and Accelerate Industry Transformation with Microsoft15.5.2026 16:00:00 CEST | Press release
Accelerates AI‑driven transformation through expanded agentic AI and data engineering capabilities that underpin NTT DATA’s AI strategy Adds 1,000 Azure engineers and AI specialists to scale cloud and AI delivery capabilities Advances NTT DATA’s North America leadership position, scaling industry aligned AI led innovation across its cloud services and Microsoft Business Unit Builds on NTT DATA’s position as the fastest-growing Microsoft GSI partner, accelerating co-innovation in enterprise AI NTT DATA, a global leader in AI, digital business and IT services, today announced it has signed a definitive agreement to acquire WinWire,an award-winning Microsoft partner specializing in Agentic AI, AI on Azure, data engineering and cloud-native development as foundational capabilities for enterprise AI. The acquisition strengthens NTT DATA’s position as a trusted partner to help organizations move beyond experimentation to operationalize AI at scale. The acquisition further advances NTT DATA’s
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom