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Motilal Oswal Report
Larsen & Toubro Infotech Ltd.'s Q2 FY21 revenue growth of 2.3% QoQ constant currency was better than expected.
It was led by sharper recovery in some verticals (banking and financial sector and manufacturing) and geographies (Europe).
More impressively, the company expanded its Ebit margin (up 250 basis point QoQ) for the fourth quarter in a row, aided by better operational efficiencies.
Management reinstated guidance of 14-15% profit after tax margin for FY21, broadly in line with our expectation.
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