L&T Infotech surges

about 30 days ago
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Larsen & Toubro Infotech, which has closed yesterday at Rs.2195.50, surged to hit a new 52-week high today at Rs.2340. It has come off this high but remains firmly in the green at Rs.2290.

The company posted a good set of earnings with consolidated net profit rising over 17% (YoY) to Rs.416 crore though, QoQ, it was down 3%. This net profit was on a 19% (YoY) rise in revenue at Rs.2949 crore.

In dollar terms, constant currency revenue rose 11%.

Its EBITDA margin came in at 18.4% v/s 20.1% (YoY).

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