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Motilal Oswal Report
Larsen and Toubro Infotech Ltd.'s revenue growth, in U.S. dollar terms, stood at 8.9% QoQ constant currency in Q2 FY22, above our estimate of 5.4%.
Growth was broad based across verticals, service lines, geographies, and client buckets. Broad based industry growth was led by banking and financial services and manufacturing.
Ebit margin expanded by 80 basis points QoQ to 17.2% in Q2 FY22 (our estimate: 16.7%), led by selling general and administrative leverage, offshoring, and higher working days, partially offset by utilisation and higher costs.
L&T Infotech's management highlighted that the demand environment is one of the strongest. It expects demand to remain strong over the next three years.
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