Larsen and Toubro Infotech for the quarter ended Dec 2021 registered a consolidated sales of Rs 4137.6 crore, a growth of 9.8% QoQ and 31.2% yoy basis. On USD terms the revenue for the quarter was up by 8.7%QoQ basis and 29.3%YoY basis. Eventually the net profit (after MI) was Rs 612.5 crore, up 11.0% QoQ basis and a growth of 18.0%YoY basis.
Consolidated quarterly performance QoQ comparison
Net sales (including other operating income) of Larsen & Toubro Infotech has increased 9.84% to Rs 4137.6 crore.
Operating profit margin has jumped from 19.46% to 20.09%, leading to 13.35% rise in operating profit to Rs 831.10 crore. Employee cost decreased from 62.89% to 60.82%. Other expenses rose from 17.64% to 19.10%. Other direct service cost rose from 15.97% to 17.70%.
Other income fell 10.16% to Rs 99.9 crore. PBIDT rose 10.26% to Rs 912.2 crore. Provision for interest rose 8.05% to Rs 18.8 crore.
PBDT rose 10.30% to Rs 912.2 crore. Provision for depreciation rose 4.12% to Rs 88.5 crore.
Profit before tax grew 11.01% to Rs 823.70 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 211.2 crore, compared to Rs 190.3 crore. Effective tax rate was 25.64% compared to 25.65%.
Minority interest increased 150% to Rs 0.50 crore. Net profit attributable to owners of the company increased 10.97% to Rs 612.00 crore.
Promoters' stake was 74.07% as of 31 December 2021 ,compared to 74.09% as of 30 September 2021 .
Consolidated Quarterly Result YoY comparison
Net sales (including other operating income) of Larsen & Toubro Infotech has increased 31.24% to Rs 4137.6 crore. Sales of Banking Financial Services segment has gone up 32.58% to Rs 1,908.00 crore (accounting for 46.11% of total sales). Sales of Manufacturing segment has gone up 32.16% to Rs 701.90 crore (accounting for 16.96% of total sales). Sales of Energy & Utilities segment rose 14.56% to Rs 362.70 crore (accounting for 8.77% of total sales). Sales of High Tech Media & Entertainment segment has gone up 46.50% to Rs 489.60 crore (accounting for 11.83% of total sales). Sales of CPG Retail Pharma segment has gone up 27.00% to Rs 675.40 crore (accounting for 16.32% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 15.05% to Rs 847.70 crore. PBIT of Banking Financial Services segment rose 12.40% to Rs 401.60 crore (accounting for 47.38% of total PBIT). PBIT of Manufacturing segment rose 7.10% to Rs 147.90 crore (accounting for 17.45% of total PBIT). PBIT of Energy & Utilities segment fell 1.69% to Rs 69.80 crore (accounting for 8.23% of total PBIT). PBIT of High Tech Media & Entertainment segment rose 23.57% to Rs 99.10 crore (accounting for 11.69% of total PBIT). PBIT of CPG Retail Pharma segment rose 43.35% to Rs 129.30 crore (accounting for 15.25% of total PBIT).
PBIT margin of Banking Financial Services segment fell from 24.83% to 21.05%. PBIT margin of Manufacturing segment fell from 26.00% to 21.07%. PBIT margin of Energy & Utilities segment fell from 22.43% to 19.24%. PBIT margin of High Tech Media & Entertainment segment fell from 24.00% to 20.24%. PBIT margin of CPG Retail Pharma segment rose from 16.96% to 19.14%. Overall PBIT margin fell from 23.37% to 20.49%.
Operating profit margin has declined from 23.22% to 20.09%, leading to 13.52% rise in operating profit to Rs 831.10 crore. Employee cost increased from 58.36% to 60.82%. Other expenses rose from 18.42% to 19.10%. Other direct service cost rose from 16.94% to 17.70%.
Other income rose 44.99% to Rs 99.9 crore. PBIDT rose 16.23% to Rs 931 crore. Provision for interest fell 4.57% to Rs 18.8 crore.
PBDT rose 16.75% to Rs 912.2 crore. Provision for depreciation rose 8.06% to Rs 88.5 crore.
Profit before tax grew 17.77% to Rs 823.70 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 211.2 crore, compared to Rs 180.1 crore. Effective tax rate was 25.64% compared to 25.75%.
Minority interest decreased 16.67% to Rs 0.50 crore. Net profit attributable to owners of the company increased 17.99% to Rs 612.00 crore.
Promoters' stake was 74.07% as of 31 December 2021 ,compared to 74.31% as of 31 December 2020 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Larsen & Toubro Infotech has increased 24.91% to Rs 11367.1 crore. Sales of Banking Financial Services segment has gone up 27.45% to Rs 5,278.20 crore (accounting for 46.43% of total sales). Sales of Manufacturing segment has gone up 21.94% to Rs 1,808.50 crore (accounting for 15.91% of total sales). Sales of Energy & Utilities segment rose 6.53% to Rs 1,014.00 crore (accounting for 8.92% of total sales). Sales of High Tech Media & Entertainment segment has gone up 41.02% to Rs 1,400.00 crore (accounting for 12.32% of total sales). Sales of CPG Retail Pharma segment has gone up 21.88% to Rs 1,866.40 crore (accounting for 16.42% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 11.31% to Rs 2,250.20 crore. PBIT of Banking Financial Services segment rose 15.14% to Rs 1,081.70 crore (accounting for 48.07% of total PBIT). PBIT of Manufacturing segment rose 0.78% to Rs 386.90 crore (accounting for 17.19% of total PBIT). PBIT of Energy & Utilities segment fell 1.83% to Rs 198.40 crore (accounting for 8.82% of total PBIT). PBIT of High Tech Media & Entertainment segment rose 9.22% to Rs 235.80 crore (accounting for 10.48% of total PBIT). PBIT of CPG Retail Pharma segment rose 24.03% to Rs 347.40 crore (accounting for 15.44% of total PBIT).
PBIT margin of Banking Financial Services segment fell from 22.69% to 20.49%. PBIT margin of Manufacturing segment fell from 25.88% to 21.39%. PBIT margin of Energy & Utilities segment fell from 21.23% to 19.57%. PBIT margin of High Tech Media & Entertainment segment fell from 21.75% to 16.84%. PBIT margin of CPG Retail Pharma segment rose from 18.29% to 18.61%. Overall PBIT margin fell from 22.21% to 19.80%.
Operating profit margin has declined from 22.08% to 19.46%, leading to 10.07% rise in operating profit to Rs 2,212.00 crore. Employee cost increased from 59.81% to 62.41%. Other expenses rose from 18.10% to 18.13%. Other direct service cost rose from 16.46% to 16.49%.
Other income rose 94.11% to Rs 332.7 crore. PBIDT rose 16.67% to Rs 2544.7 crore. Provision for interest fell 9.87% to Rs 53.9 crore.
PBDT rose 17.42% to Rs 2490.8 crore. Provision for depreciation rose 1.24% to Rs 253 crore.
Profit before tax grew 19.58% to Rs 2,237.80 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 576.8 crore, compared to Rs 478.9 crore. Effective tax rate was 25.78% compared to 25.59%.
Minority interest decreased 25% to Rs 1.20 crore. Net profit attributable to owners of the company increased 19.33% to Rs 1,659.80 crore.
Promoters' stake was 74.07% as of 31 December 2021 ,compared to 74.31% as of 31 December 2020 .
Yearly performance
Net Sale for the period was up by 14%YoY to Rs 12369.8 crore. In USD terms the revenue was up by 10% to USD 1670.1 million. But with OPM expand by 330 bps to 22%, the growth at operating profit was 34% to Rs 2725.1 crore. The PBT was up by 29% to Rs 2588.2 crore hit by lower OI and higher depreciation. The taxation was up by 35% to Rs 650 crore and thus the PAT was up by 27% to Rs 1938.2 crore. MI was up by 425% to Rs 2.1 crore and thus the net profit (after MI) was up by 27% to Rs 1936.1 crore.
Management Comment:
Commenting on the performance Mr Sanjay Jalona, Chief Executive Officer & Managing Director said We are happy to report 9.2% QoQ revenue growth in constant currency. This is our best ever quarterly sequential growth since listing. Our ongoing revenue momentum sets us up to deliver our highest year-over-year growth as a publicly listed company. We continue to have incredible conversions with our customers on their digital transformation journeys.
L&T Infotech: Consolidated Results
| 2112 (3) | 2109 (3) | Var. (%) | 2012 (3) | Var. (%) | 2112 (9) | 2012 (9) | Var. (%) | 2103 (12) | 2003 (12) | Var. (%) |
| Sales | 4137.6 | 3767.0 | 9.8 | 3152.8 | 31.2 | 11367.1 | 9100.4 | 24.9 | 12369.8 | 10878.6 | 13.7 |
| OPM (%) | 20.1 | 19.5 | | 23.2 | | 19.5 | 22.1 | | 22.0 | 18.7 | |
| OP | 831.1 | 733.2 | 13.4 | 732.1 | 13.5 | 2212.0 | 2009.7 | 10.1 | 2725.1 | 2029.3 | 34.3 |
| Other inc. | 99.9 | 111.2 | -10.2 | 68.9 | 45.0 | 332.7 | 171.4 | 94.1 | 274.4 | 329.2 | -16.6 |
| PBIDT | 931.0 | 844.4 | 10.3 | 801.0 | 16.2 | 2544.7 | 2181.1 | 16.7 | 2999.5 | 2358.5 | 27.2 |
| Interest | 18.8 | 17.4 | 8.0 | 19.7 | -4.6 | 53.9 | 59.8 | -9.9 | 78.8 | 82.6 | -4.6 |
| PBDT | 912.2 | 827.0 | 10.3 | 781.3 | 16.8 | 2490.8 | 2121.3 | 17.4 | 2920.7 | 2275.9 | 28.3 |
| Dep. | 88.5 | 85.0 | 4.1 | 81.9 | 8.1 | 253.0 | 249.9 | 1.2 | 332.5 | 273.0 | 21.8 |
| PBT before Share of profit from Associates | 823.7 | 742.0 | 11.0 | 699.4 | 17.8 | 2237.8 | 1871.4 | 19.6 | 2588.2 | 2002.9 | 29.2 |
| Share of Profit fro Associates | 0.0 | 0.0 | | 0.0 | | 0.0 | 0.0 | #DIV/0! | 0.0 | 0.0 | |
| PBT | 823.7 | 742.0 | 11.0 | 699.4 | 17.8 | 2237.8 | 1871.4 | 19.6 | 2588.2 | 2002.9 | 29.2 |
| EO Exp | 0.0 | 0.0 | | 0.0 | | 0.0 | 0.0 | | 0.0 | 0.0 | |
| PBT after EO | 823.7 | 742.0 | 11.0 | 699.4 | 17.8 | 2237.8 | 1871.4 | | 2588.2 | 2002.9 | 29.2 |
| Tax | 211.2 | 190.3 | 11.0 | 180.1 | 17.3 | 576.8 | 478.9 | 20.4 | 650.0 | 482.4 | 34.7 |
| PAT | 612.5 | 551.7 | 11.0 | 519.3 | 17.9 | 1661.0 | 1392.5 | 19.3 | 1938.2 | 1520.5 | 27.5 |
| MI | 0.5 | 0.2 | 150.0 | 0.6 | -16.7 | 1.2 | 1.6 | -25.0 | 2.1 | 0.4 | 425 |
| Net Profit | 612.0 | 551.5 | 11.0 | 518.7 | 18.0 | 1659.8 | 1390.9 | 19.3 | 1936.1 | 1520.1 | 27.4 |
| EPS (Rs)* | 139.9 | 126.1 | | 118.6 | | 189.7 | 159.0 | | 110.6 | 86.9 | |
* On Current Paid up equity capital of Rs 17.5 crore, Face value Rs 1.
Figures in crore
Source: Capitaline Databases
EO: Extraordinary items
EPS is adjusted after EO and relevant tax |
L&T Infotech: Consolidated Segment Information
| % of (Total) | 2112(3) | 2109 (3) | Var.(%) | 2012(3) | Var.(%) | % of (Total) | 2112(9) | 2012(9) | Var.(%) | % of (Total) | 202103 | 202003 | Var.(%) |
| Sales | | | | | | | | | | | | | | |
| Banking, Financial Services and Insurance | 46.11% | 1908.00 | 1758.20 | 8.5% | 1439.10 | 32.58% | 46.43% | 5278.20 | 4141.40 | 27.45% | 45.43% | 5,619.10 | 4,936.50 | 13.83% |
| Manufacturing | 16.96% | 701.90 | 586.70 | 19.6% | 531.10 | 32.16% | 15.91% | 1808.50 | 1483.10 | 21.94% | 16.45% | 2,035.30 | 1,827.50 | 11.37% |
| Energy & Utilities | 8.77% | 362.70 | 336.30 | 7.9% | 316.60 | 14.56% | 8.92% | 1014.00 | 951.80 | 6.53% | 10.11% | 1,250.10 | 1,239.60 | 0.85% |
| High-Tech, Media & Entertainment | 11.83% | 489.60 | 470.60 | 4.0% | 334.20 | 46.50% | 12.32% | 1400.00 | 992.80 | 41.02% | 11.14% | 1377.80 | 1216.60 | 13.25% |
| CPG, Retail, Pharma & Others | 16.32% | 675.40 | 615.20 | 9.8% | 531.80 | 27.00% | 16.42% | 1866.40 | 1531.30 | 21.88% | 16.88% | 2087.50 | 1658.40 | 25.87% |
| Total Reported Sales | 100.00% | 4137.60 | 3767.00 | 9.8% | 3152.80 | 31.24% | 100.00% | 11367.10 | 9100.40 | 24.91% | 100.00% | 12369.80 | 10878.60 | 13.71% |
| PBIT | | | | | | | | | | | | 0.0% | 0.0% | |
| Banking, Financial Services and Insurance | 47.38% | 401.60 | 361.80 | 11.0% | 357.30 | 12.40% | 48.07% | 1081.70 | 939.50 | 15.14% | 45.60% | 1251.90 | 1042.30 | 20.11% |
| Manufacturing | 17.45% | 147.90 | 139.40 | 6.1% | 138.10 | 7.10% | 17.19% | 386.90 | 383.90 | 0.78% | 18.42% | 505.80 | 344.90 | 46.65% |
| Energy & Utilities | 8.23% | 69.80 | 57.00 | 22.5% | 71.00 | -1.69% | 8.82% | 198.40 | 202.10 | -1.83% | 9.58% | 262.90 | 218.70 | 20.21% |
| High-Tech, Media & Entertainment | 11.69% | 99.10 | 74.00 | 33.9% | 80.20 | 23.57% | 10.48% | 235.80 | 215.90 | 9.22% | 10.47% | 287.40 | 146.20 | 96.58% |
| CPG, Retail, Pharma & Others | 15.25% | 129.30 | 116.50 | 11.0% | 90.20 | 43.35% | 15.44% | 347.40 | 280.10 | 24.03% | 15.93% | 437.40 | 332.10 | 31.71% |
| Total PBIT | 100.00% | 847.70 | 748.70 | 13.2% | 736.80 | 15.05% | 100.00% | 2250.20 | 2021.50 | 11.31% | 100.00% | 2745.40 | 2084.20 | 31.72% |
| Less : Interest | | 18.80 | 17.40 | 8.0% | 19.70 | -4.57% | | 53.90 | 59.80 | -9.87% | | 78.80 | 82.60 | -4.60% |
| Less: Other un-allcoable Expense | | 105.10 | 100.50 | 4.6% | 86.60 | 21.36% | | 291.20 | 261.70 | 11.27% | | 352.80 | 327.90 | 7.59% |
| Add: Other Unallocable Income | | 99.90 | 111.20 | -10.2% | 68.90 | 44.99% | | 332.70 | 171.40 | 94.11% | | 274.40 | 329.20 | -16.65% |
| PBT | | 823.70 | 742.00 | 11.0% | 699.40 | 17.77% | | 2237.80 | 1871.40 | 19.58% | | 2588.20 | 2002.90 | 29.22% |
Powered by Capital Market - Live News