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Motilal Oswal Report
Larsen & Toubro Infotech Ltd.'s first quarter revenue and margin performance was strong in-line, despite the current challenging environment.
The sequential growth in its top account was a surprise despite disruptions caused by the Covid-19 pandemic. Large deal wins during Q1 were lower than the typical run-rate, which should translate into stable revenue in Q2.
However, we believe the company's deal pipeline is strong over 19% YoY with LTI expected to announce a few large deals in 2QFY21.
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