L&T INFOTECH LTD Plunges by 6%; BSE IT Index Down 0.3%
March 19, 2020 02:38 PM

L&T INFOTECH LTD share price has plunged 6% and is presently trading at Rs 1,375.

Meanwhile, the BSE IT Index is at 11,697 (down 0.3%).

Among the top losers in the BSE IT Index today are L&T INFOTECH LTD (down 5.5%) and L&T TECHONOLOGY (down 5.8%).

INFOSYS (up 2.4%) and TCS (up 0.3%) are among the top gainers today.

Over the last one year, L&T INFOTECH LTD has moved down from Rs 1,573 to Rs 1,375, registering a loss of Rs 198 (down 12.6%)..

The BSE IT has moved down from 14,985 to 11,697, loss of 3,288 points (down 21.9%) during the last 12 months.

What About the Benchmark Indices?

The BSE Sensex is at 29,371 (down 0.1%). The top gainers among the BSE Sensex stocks today are HERO MOTOCORP (up 5.6%). The most traded stocks in the BSE Sensex are ITC and ICICI BANK.

In the meantime, NSE Nifty is at 8,575 (down 1.4%). HERO MOTOCORP (up 5.0%) and ITC (up 4.7%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,095 to 29,371, registering a loss of 8,724 points (down 24.31%).

L&T INFOTECH LTD Financial Update...

L&T INFOTECH LTD net profit stood at Rs 4 billion for the quarter ended December 2019, compared to a profit of Rs 4 billion a year ago. Net Sales rose 13.7% to Rs 28.1 billion during the period as against Rs 24.7 billion in October-December 2018.

For the year ended March 2019, L&T INFOTECH LTD reported 36.2% increase in net profit to Rs 15.2 billion compared to net profit of Rs 11.1 billion during FY18.

Revenue of the company grew 29.3% to Rs 94 billion during FY19.

The current Price to earnings ratio of L&T INFOTECH LTD, based on rolling 12 month earnings, stands at 15.3x.