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ICICI Direct Report
Larsen and Toubro Ltd. reported robust Q1 FY22 results.
The current quarter was driven by banking financial services and insurance, hi tech and energy and utility.
This was mainly led by large deals won by the company in previous quarters, traction in digital technologies and new logos added.
Larsen and Toubro has added 33 new logos, three clients each in $5 million and $10 million bucket and one in $50 million bucket representing healthy client mining.
India revenues were impacted by Covid-19 and absence of pass through revenues. India revenues are expected to witness an improvement in coming quarters.
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