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For the quarter ending December 2021, L&T Infotech’s (LTI) consolidated net profit grew 18 to ₹ 612 crore as compared to ₹ 518 crore in the time-ago period whereas profit from operations rose 31 to ₹ crore. Shares of L&T Info slipped0.4 at ₹ on the BSE in Thursday’s opening deals LTI reported its loftiest ever growth of9.2 on a successional base CC ( constant currency), ahead of estimates. While growth was broad grounded across verticals and service lines, Q3FY22 advantaged from pass through of profit in India, as per Motilal Oswal. “ While we remain confident of the operation’s prosecution capabilities, we remain on the sidelines in the stock, led by a significant valuationre-rating. We maintain our Neutral standing with target price of ₹,” suggested the brokerage in a note.
The company’s operation is confident of delivering a top-quartile profit performance in FY22 on the reverse of strong broad- grounded demand, exchanges with guests, and good progress on customer mining.
“ LTI reported beat in EBIT perimeters,17.9, 70bps QoQ despite force side pressures backed by profit growth and constantly perfecting coastal trouble blend,” stressed Prabhudas Lilladher.
Deal channel continues to be robust with adding number of metamorphosis deals broken in to lower deals with bias towards faster prosecution. LTI added 27 new ensigns this quarter and the Operation is confident of sustaining growth instigation for coming 3-5 times given business capability strengths coupled with strong demand terrain.
LTI continues to remain one of its favored pick in the midcap IT space. Prabhudas Lilladher has a Buy standing on the IT stock with a target price of ₹.
Another brokerage Emkay has maintained Hold on L&T Infotech shares with a target price of ₹ as strong broad- grounded profit growth, continued strength in BFS and good progress across customer pails. It expects LTI to deliver a top-quartile profit/ earnings performance, but the valuation remains rich.
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