L&T Infotech at new high

about 1 month ago
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L&T Infotech is the top gainer on the BSE; from its close of Rs.5907 yesterday, it opened itself much higher at Rs.6460 and went on to hit a new high today at Rs.6777.20.

The market is obviously super thrilled with its Q2FY22 earnings, historically its best ever. Its consolidated revenue from operations rose 9% (QoQ) at Rs.3767 crore and net profit came in at Rs.552 crore, up 11%.

EBIT margin showed a good improvement from 16.4% to 17.2%.

The management said that this was the strongest sequential growth the company has witnessed, taking its annual revenue run rate to cross $2 billion. It expects demand to remain strong over the next three years. 

The board has declared an interim dividend of Rs 15 per equity share of the face value of Re 1 each and 26th Oct is the record date.

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