Infrastructure behemoth L&T’s IT services arm Larson & Toubro Infotech (LTI) in May reported a 31 percent consolidated quarterly and 36 percent yearly net profit in the 2018-19 fiscal. “Net profit for the fourth quarter (Q4) of fiscal 2018-19 grew 31 percent annually to Rs 379 crore from Rs 289 crore in the same period a year ago and flat (0.9 percent) sequentially from Rs 376 crore a quarter ago,” said the company in a statement.

Though headquartered in Mumbai along with its parent firm (L&T), LTI has its largest software development facility in this tech hub. Consolidated revenue for the quarter (Q4) under review grew 24 percent annually to Rs 2,486 crore from Rs 2,001 crore in the same period a year ago and flat (0.5 percent) sequentially from Rs 2,473 crore a quarter ago.