LTI net profit increases 31% to Rs 378.5 cr in March quarter

Mid-size IT firm, LTI Thursday reported a 31 percent growth in its March quarter net at Rs 378.5 crore on a faster revenue accretion.

The city-headquartered company, the information technology arm of engineering giant Larsen & Toubro, reported a 36.2 percent jump in post tax profit at Rs 1,515 crore in FY19.

The overall revenues for the quarter grew 24.2 percent to Rs 2,486 crore, while the same for the entire fiscal grew 29.3 percent to Rs 9,445 crore.

The company's operating margin, however, declined 1.40 percent to 17.7 percent as against the 19.1 percent in the preceding quarter.

Its chief executive and managing director Sanjay Jalona explained this was due to extra hiring during the quarter and the investments which go into the same.

The utilisation levels for the company were at a very high levels, which was getting almost "unhealthy", he told

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)