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Larsen & Toubro Infotech Q4FY17 standalone net profit rises 3.8% qoq : Estimates Mixed

Larsen & Toubro Infotech Ltd Q4FY17
Standalone Results Q4FY17: (Rs. in crore)
Q4FY17     QoQ (%)
Revenue     1,593     [0.1] EDITDA     281     3.3
EBITDA Margin (%)     17.6     58
Net Profit (adjusted)     245     3.8
L&T Infotech’s reported standalone results for the quarter came in mixed versus street estimates. Net profit for the quarter came in 4.1 % higher than the estimated figure of Rs. 235 crore. However, revenue for the quarter came in 4.3 % lower than the estimated figure of Rs. 1664 crore.

L&T Infotech standalone revenue for the quarter remained constant at Rs. 1593 crore compared to Rs.1594 in last quarter.

EBITDA for the quarter rose by 3.3% QoQ to Rs. 281 crores with a corresponding margin expansion of 58 bps. EBITDA margin for the quarter stood at 17.6%. This margin expansion was aided by 2.7% QoQ decline in employee benefit exepnses.

PAT for the quarter came in at Rs. 245 crores, QoQ increase of 3.8%.

Looking at the full year numbers, we see that revenue jumped by 11% to reach Rs.6183 crore while EBITDA rose by 19% to 1098 crore. Company reported net profit of Rs.938 crore, up 10% yoy
Technical View:

Larsen & Toubro Infotech Ltd is currently trading at Rs. 712.8, up by 3.15 points or 0.44% from its previous closing of Rs. 709.65 on the BSE.
The scrip opened at Rs. 709.15 and has touched a high and low of Rs. 719 and Rs. 705.4 respectively. So far 27304(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.