L&T Infotech gained 1.97% to Rs 827 at 11:00 IST on BSE after consolidated net profit rose 2.2% to Rs 273 crore on 4.8% rise in revenue to Rs 1750.80 crore in Q2 September 2017 over Q1 June 2017.
The result was announced after market hours yesterday, 6 November 2017.Meanwhile, the BSE Sensex was down 58.91 points, or 0.17% to 33,672.28.
More than usual volumes were witnessed on the counter. On the BSE, 15,320 shares were traded in the counter so far, compared with average daily volumes of 6,019 shares in the past one quarter. The stock had hit a high of Rs 840 and a low of Rs 825 so far during the day. The stock had hit a record high of Rs 844.15 yesterday, 6 November 2017. The stock had hit a record low of Rs 595 on 21 November 2016.
The stock had underperformed the market over the past one month till 6 November 2017, gaining 1.83% compared with 6.03% gains in the Sensex. The scrip had, however, outperformed the market in the past one quarter, rising 4.91% as against Sensex's 4.35% rise. The scrip had also outperformed the market in the past one year, advancing 29.46% as against Sensex's 23.67% rise.
The large-cap company has an equity capital of Rs 17.11 crore. Face value per share is Re 1.
Earnings before interest, tax, depreciation and amortization (EBITDA) margin remained steady at 16.8% in Q2 September 2017 compared with Q1 June 2017.
The board of directors of the company declared first interim dividend of Rs 8 per share for the year ending 31 March 2017 (FY 2017).
Sanjay Jalona, Chief Executive Officer & Managing Director of the company said that intense client focus and disciplined execution of strategy has helped the company to deliver broad based revenue growth led by digital, which now represents 32% of revenues. The company announced two large deals this quarter. These wins, combined with on-track execution of large deals won earlier makes company optimistic about the future, he added.
L&T Infotech offers an extensive range of IT services to clients in diverse industries such as banking and financial services, insurance, energy and process, consumer packaged goods, retail and pharmaceuticals, media and entertainment, hi-tech and consumer electronics and automotive and aerospace.
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