 "L&T Infotech shares surge nearly 8% after company reports 12.9% growth in Q4 net profit")
New Delhi: IT company L&T Infotech shares rallied nearly 8 percent on Wednesday after the firm reported a 12.9 percent growth in consolidated net profit for the January-March 2020 quarter.
The stock of the company jumped 7.71 percent to Rs 1,798 on BSE. It zoomed 7.77 percent to Rs 1,800 on NSE.
L&T Infotech says it’s an unprecedented time for co & the entire IT space. Some large deals got delayed due to COVID-19 pic.twitter.com/KHGK3BiRSb
— CNBC-TV18 (@CNBCTV18Live) May 20, 2020
L&T Infotech on Tuesday reported a 12.9 percent growth in consolidated net profit to Rs 427.5 crore for the January-March 2020 quarter.
This is against a net profit of Rs 378.5 crore in the same period a year ago, the company said.
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Its revenue was up 21.2 percent to Rs 3,011.9 crore in the reported quarter from Rs 2,486 crore in the year-ago period, L&T Infotech (LTI) added.
Seen sequentially, the net profit was up 13.5 percent, while the topline rose 7.1 percent.
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