 "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. Click here to follow LIVE news and updates on stock markets 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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