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L&T Infotech Sheds Around 3% Even After Profit Rises 19% In June Quarter

Shares of L&T Infotech had been final buying and selling 2.75 per cent decrease at Rs 4,295.90 on the BSE.

Share worth of Larsen and Toubro (L&T) Infotech declined round three per cent on Friday, July 16, after the corporate introduced its April-June quarter outcomes for the monetary 12 months 2021-22. On Friday, L&T Infotech opened on the BSE at Rs 4,396.10, inching to an intra day excessive of Rs 4,396.10 and an intra day low of Rs 4,253.35, through the buying and selling session up to now. The IT agency reported a web revenue of Rs 496.eight crore on a consolidated foundation within the first quarter of the present fiscal 12 months.

The corporate’s revenue elevated 19.Three per cent year-on-year as its web revenue got here in at Rs 416.Four crore within the corresponding quarter of the earlier monetary 12 months. L&T Infotech’s income for operations in the June quarter stood at Rs 3,462.5 crore, in comparison with Rs 2,949 crore in the identical quarter of the earlier fiscal, marking a rise of 17.Four per cent year-on-year.

The corporate’s board of administrators declared a particular dividend for the monetary 12 months 2021-22 of Rs 1- per fairness share of face worth of Re 1, every totally paid-up. The dividend will probably be paid to the fairness shareholders on August 2, 2021, in response to a regulatory alternate by the agency to the inventory exchanges.

On the NSE,  L&T Infotech opened at Rs 4,399, registering an intra day excessive of Rs 4,399 and sliding to an intra day low of Rs 4,251, within the session up to now. It was final buying and selling 2.67 per cent decrease at Rs 4,302.35 on the NSE.

Shares of L&T Infotech had been final buying and selling 2.75 per cent decrease at Rs 4,295.90 on the BSE.

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