BUSINESS

L&T Infotech Surges 10% in Q2 Results

Larsen & Toubro (L&T) Infotech Ltd shares have rallied 10 per cent to Rs 6,496.40 on the National Stock Exchange (NSE) in Tuesday’s intra-day trade after the company reported the most robust sequential revenue growth, its best for the July-September quarter (Q2), at 8.9 per cent in constant currency terms.

The stock of the L&T group information technology (IT) consulting & software company was trading close to its record high of Rs 6,498.50 touched on September 24, 2021.

L&T Infotech had reported a net profit of Rs 552 crore for the second quarter ended September 30, 2021 (Q2FY22), up 21 per cent year-on-year (YoY) and 11 per cent sequentially. Strong demand led to revenue growth of 25.6 per cent YoY at Rs 3,767 crore, while the figure was up 8.8 per cent successively.

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