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
Tigo Energy Global Quality Program Marks 1,500 Green Glove Installer Engagements18.2.2026 12:00:00 CET | Press release
Continuous quality improvement produces better outcomes for solar customers with Green Glove installer support, and business process updates internally and in the field. Tigo Energy, Inc. (NASDAQ: TYGO) (“Tigo” or “Company”), a leading provider of intelligent solar and energy software solutions, today announced that the Company’s vast network of solar installers has logged 1,500 Green Glove service program engagements. The Green Glove program helps reinforce the Company’s ongoing commitment to Total Quality Solar and deliver the best possible installer experience for participants, such as Brighthouse Solar of Central California. In addition to the Green Glove program, Tigo has deployed more than 12,000 customized onboarding sequences, across ten countries, to bring new installation companies up to speed on all things Tigo. From region-specific information to product and software training tips, these sequences are designed to ensure that installers have what they need based on their com
Battery Ventures Raises $3.25 Billion to Back Innovative Tech Companies Worldwide18.2.2026 10:00:00 CET | Press release
Battery—continuing to invest across the venture capital and buyout markets—has a single close on an oversubscribed fund Battery Ventures, the global, technology-focused investment firm, has closed a new, $3.25 billion fund to continue backing technology companies globally with a focus on the U.S., Europe and Israel. The new fund, Battery Ventures XV, comes on the heels of 15 announced exit events for the firm in 2025. Over the last five years Battery funds have realized more than $10 billion in liquidity, a testament to the firm’s stage-diversified approach. “We’re excited to build on our past success and partner with new, innovative companies in this dynamic market—driven, in large part, by the rise of artificial intelligence,” said Michael Brown, a Battery general partner. “To us, AI is ushering in one of the most consequential eras in the history of technology. We understand the gravity of this moment and feel well-suited to capitalize on the opportunity, given our global reach and
NICT Showcases Beyond 5G/6G Technologies at MWC Barcelona 202618.2.2026 09:00:00 CET | Press release
Japan's only national ICT research institute to present live demonstrations of terahertz-band wireless transmission, AI-driven communications, and advanced security technologies at Hall 6, Stand F54 National Institute of Information and Communications Technology (NICT), Japan’s leading public research organization in information and communications technology, today announced that it will exhibit at Mobile World Congress (MWC) Barcelona 2026, taking place from March 2–5, 2026, at Hall 6, Stand F54. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260216620427/en/ NICT BOOTH NICT’s presence highlights Japan’s leadership in Beyond 5G and 6G research and development activities, addressing the growing limitations of current mobile networks as data traffic and connected devices continue to increase across Europe and globally. While 5G deployment is expanding, emerging applications such as AI-driven services, real-time analytics, and
BEYOND Developments Unveils EVERMORE Masterplan on Marjan Beach in Ras Al Khaimah18.2.2026 07:00:00 CET | Press release
BEYOND Developments unveiled EVERMORE, its first fully masterplanned destination on Marjan Beach in Ras Al Khaimah, marking the opening chapter of BEYOND’s 2026 growth strategy and a bold expansion beyond Dubai. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260217969384/en/ EVERMORE by BEYOND Developments - The Essence of French Living at Marjan Beach, Ras Al Khaimah (Photo: AETOSWire) Strategically located opposite Wynn Al Marjan Island, EVERMORE is a long-term lifestyle and residential waterfront district framed by the sea and Marjan’s future botanical garden. The masterplan blends French classical elegance with contemporary architecture, integrated nature, and lifestyle-focused placemaking, creating a distinctive setting where architecture, hospitality, and public spaces harmonize with water and greenery. Mahdi Amjad, Founder and Executive Chairman of BEYOND Developments, said: “Ras Al Khaimah is witnessing a new phase o
Westlake Epoxy Expands Distribution Relationship with Brenntag to India18.2.2026 02:30:00 CET | Press release
Westlake Corporation (NYSE: WLK) today announced that Westlake Epoxy will expand its long‑standing distribution relationship with Brenntag to South and West India. The agreement builds on a successful collaboration across Europe, North and South America, and Southeast Asia, extending Westlake Epoxy’s reach into one of the world’s fastest‑growing coatings, adhesives and construction markets. Under the expanded collaboration, Brenntag will distribute Westlake Epoxy’s established portfolio of epoxy solutions for coatings, adhesives and construction applications, including the EPON™, EPIKOTE™, EPIKURE™ and EPI‑REZ™ product lines. Customers are expected to benefit from reliable local supply, technical service and application‑focused formulation support tailored to regional requirements. India’s coatings, adhesives and construction sectors continue to grow, driven by infrastructure investment, urbanization and increasing performance expectations. By combining Westlake Epoxy’s proven epoxy te
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