Stock To Watch Next Week: L&T Infotech Profit Up 23% To Rs. 679 Cr, EPS Jumps to Rs. 38.75

Larsen & Toubro Infotech today announced its Q2 FY23 earnings report. Its total net profit gained to Rs. 679.8 crore for the quarter, increased above 23% YoY from Rs. 551.70 crore reported in Q2 FY22. On the last trading day, its share price closed at Rs. 4,688.40 a piece, with around a 2% intra day surge. Investors will look forward to this bluechip stock next week.

L&T Infotech is a global technology consulting and digital solutions company. In Q2 FY23, the company's consolidated revenue from operations jumped by 28.39% to Rs. 4,836.7 crore during the reported quarter from Rs. 3,767 crore in Q2 FY22. In the last quarter, its total expenses jumped to Rs. 4074.70 crore with 29% YoY gain, from to Rs. 3136.20 crore reported in the same quarter last year. Its profit before tax (PBT) gained to Rs. 901.30 crore in Q2 FY23 with 21% YoY growth, from Rs. 742 crore reported in the year-ago quarter. Additionally, L&T Infotech reported that its earnings per share (EPS) jumps to Rs. 38.75 in Q2FY23 from ₹31.50 recorded in the same quarter last year.

L&T Infotech - stock performance

In the last 5 days, the share of L&T Infotech gained by 2.23%, and in the past 1 month it has gained by 7.05%. However, this stock fell by 20.61% in the last 1 year. In the last 5 years its share price surged by 479.78%, making it a multibagger stock. It is a large-cap stock with a market capitalization of Rs. 81,875 crore.

The 52-week high level of this stock is Rs. 7,588.80, and the 52-week low level of this stock is Rs. 3,733.30.

Commenting on the result, Sudhir Chaturvedi, President, Sales and Executive Board Member said, "We are happy to report 21.6% YoY revenue growth in constant currency. We remain excited about the proactive conversations we are having with our customers and see increased traction in the cloud and analytics space. The strength of our pipeline and our sustained net headcount addition will continue to fuel our growth."

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