L&T Infotech in green

Larsen & Toubro Infotech is doing well today. The stock opened in the green and rose over 3.5% to hit an intraday high at Rs.4239. Its 52-week high is at Rs.4499.90.

The stock price has zoomed up on the back of its Q3FY21 earnings. On a 6% (QoQ) rise in consolidated total income, the company posted a 13.5% jump in net profit at Rs.519 crore. YoY, profit is up 38%.

In terms of US$, its revenue rose 6% sequentially at $428 million and in Constant Currency, it was up 5%.

EBIT Margin came in at 20.6% v/s 19.9%.

All segments, except Energy and Utilities showed a sequential growth in revenue. In terms of geography, India showed the best growth at 30%, America at 4.5% and Europe by 5.5%.

Total employee count is at 33,983, with utilization at 81% and attrition at 12.4% v/s 13.5% (QoQ).