Larsen & Toubro Ltd.    
21 Oct 2020
1122.40
0.32%
Business Standard
After a sharp increase in profit margins for the September quarter, Larsen & Toubro Infotech, the IT arm of engineering major L&T, is now confident of achieving its 14-15 per cent net income margin target, its chief executive Sanjay Jalona said on Wednesday. The company feels the demand environment has changed for the better as companies adjust to the new realities, and hence it is confident of maintaining the revenue growth as well, he said. Jalona attributed the 1.1 per cent widening of the margins on a sequential basis to 15.2 per cent during the September quarter to higher utilisation, increased offshoring of work and a dip in expenses on sales and travel. "We were not confident of maintaining margins when the COVID crisis hit us. None of us had worked in a scenario like this. But now, we are confident of achieving the 14-15 per cent targeted level on the net income margin," Jalona told PTI on a call. The company had to give discounts to some of its customers as the...
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