Powered by: Motilal Oswal
01-01-1970 12:00 AM | Source: Angel One Ltd
Quote on L&T Infotech Q2FY22 results by Jyoti Roy, Angel One Ltd
News By Tags | #6943 #607 #3606 #5613

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

Below is quote on L&T Infotech Q2FY22 results by Jyoti Roy - DVP- Equity Strategist, Angel One Ltd

L&T Infotech reported a 8.3% qoq growth in revenues to USD 509mn which was well above the street and our estimates. In rupee terms revenue grew by 8.8% qoq to ₹3,767 crore while EBIT grew by 14.1% qoq to ₹6,482 crore. EBIT margins for the quarter expanded by 80pps qoq to 17.2% due to control in SG&A expenses. Net profit for the quarter grew by 11.1% qoq to ₹551.7 crore. During the quarter growth was driven by Manufacturing, BFS and other verticals which reported sequential growth of 12.4%, 9.6% and 14.2% respectively. CPG, retail & pharma on the other hand reported sluggish growth of just 1.9%. Post the Q2FY22 results we maintain our positive outlook on the stock with a price target of Rs. 6,440 (35xFY24 EPS estimate of Rs. 184).

 

Above views are of the author and not of the website kindly read disclaimer