LTI USD revenues grow 5.8% QoQ and 8.5% YoY

Larsen & Toubro Infotech has announced its Q3 FY21 results today.

In US Dollars:
▪ Revenue at USD 427.8 million; increase of 5.8% QoQ and 8.5% YoY

▪ Constant Currency Revenue increase of 5.3% QoQ and 7.4% YoY

In Indian Rupees:
▪ Revenue at INR 31,528 million; increase of 5.1% QoQ and growth of 12.2% YoY

▪ Net Income at INR 5,193 million; increase of 13.7% QoQ and growth of 37.9% YoY

Recent deal wins

• A UAE-based leader in digital transformation has selected LTI as its partner of choice to provide infrastructure and application operations support and maintenance for its existing and new customers. As part of the deal, LTI will also partner with end customers on their journey to cloud and transform operations to bring in best-shoring and automation.
• A Global Fortune 500 energy company has chosen LTI as its primary partner for an application managed services agreement to create and consolidate a business-aligned IT services delivery platform across the organization and reduce total cost of ownership.
• A company located in the U.S providing leading data-driven marketing, loyalty & payment solutions has selected LTI for customer-centric digital transformation initiatives to enhance customer experience, brand reputation, customer acquisition and retention and reduction in costs by virtue of streamlined operations.
• An engineering, construction and mining company located in South East Asia has partnered with LTI to transform its procurement, sales, bidding, contracting and analytics functions using SAP to enable operational excellence, ensure data-driven insights and informed decision making across the organization.
• LTI executed a license sale agreement for AI, Decisions and Catalog products on its Mosaic platform with a multinational banking and financial services company to bring about efficiency in their reporting with the regulators. Mosaic will serve as a unified data analytics platform enabling consolidation of all credit risk models and will be hosted in a hybrid cloud setup. As a part of the deal, LTI will be a one-stop shop providing the product as well as handling, deploying, integrating and testing services.
• A leading European financial services firm has chosen LTI to manage its infrastructure operations through a leaner operating model and by leveraging the Mosaic platform to drive automation.
• A leading commercial property and casualty insurance group based in Canada has selected LTI to consolidate and transform its policy administration systems and processes onto the Duck Creek platform to ensure streamlining of its operations.
• A U.S. based real estate investment company has chosen LTI for providing application support, maintenance and development services along with key implementation initiatives to drive cost optimization and digital transformation.
• CT Bureau