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ICICI Direct Report
Larsen and Toubro Infotech Ltd. reported strong revenue coupled with Ebit margin expansion QoQ. Constant currency revenues increased 8.9% QoQ.
It was best among peers (Tata Consultancy Services Ltd. 4%, Infosys Ltd. 6.3%, Wipro Ltd. 8.1%, HCL Technologies Ltd. 5.2%).
Ebit margin expanded QoQ 79 basis points due to rationalisation of selling general and administrative expenses, higher offshore mix and higher working days in the quarter.
L&T Infotech declared an interim dividend of Rs 15 per share.
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