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Dolat Capital Report
Larsen & Toubro Infotech Ltd. reported revenue growth of 2.3% QoQ in constant currency terms (our estimate 1.8%) led by strong performance in banking and financial service vertical (9.5% QoQ).
Operating profit margin improved by 250 basis points to 19.9% (our estimate 17.9%) led by sustainable improvement in offshore mix (170 basis points QoQ) and higher utilisation (110 basis points QoQ).
Announced dividend of Rs 15 per share.
The company guided growth to be in top quadrant for FY21 along with revenue reaching to Q4 FY20 levels by Q3 FY21 (implies atleast approximately 4% QoQ growth).
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