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Dolat Capital Report
Larsen and Toubro Infotech Ltd. reported revenue growth of 4.4% quarter-on-quarter in constant currency terms (our estimate: 4.0%) led by strong performance in banking and financial services and hi-tech verticals (5.0% and 15.8% QoQ).
Operating profit margin stood at 19.4% (our estimate: 18.4%) led by decline in selling general and administrative expenses (down 10.7% QoQ) absence of certain costs.
Dividend declared at Rs 25 per share. Net new total contract value for Q4 was weak at $66 million but trailing twelve months TCV at $404 million is up 21.7% YoY.
The company remains confident of top quartile growth in FY22.
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