Larsen & Toubro Infotech (LTI) recorded 0.5% fall in consolidated net profit to Rs 634.4 crore on a 5.1% rise in revenue to Rs 4,522.8 in Q1 FY23 over Q4 FY22. On the year-on-year basis, the company’s net income and revenue have increased by 27.7% and 30.6%, respectively.
The company said it added 29 new clients during the quarter ended 30 June 2022. The total client base currently stood at 497 active clients. Employee benefit expenses amounted to Rs 2,872.3 crore, up 10.2% QoQ and up 30.1% YoY. Total Headcount in Q1 FY23 was 48,766, up 4.5% QoQ and up 27.3% YoY. The firm’s attrition rate at 23.8% in Q1 FY23, was slightly lower as compared to 24% in Q4 FY22 but was sharply higher in comparison to 15.2% in Q1 FY22.