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CORRECTING and REPLACING LTI: FY19 constant currency revenues grow 20.9%; Net Profit for the full year up 36.2%
MUMBAI, India–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/FinancialResult?src=hash” target=”_blank”gt;#FinancialResultlt;/agt;–Under the header “Other Business Highlights,” the first sentence of the
first bullet point should read: The Board of Directors at its meeting
held on May 2nd, 2019 have declared a final dividend of Rs. 15.5 per
equity share (Face value of Re. 1) for the financial year 2018-19
(instead of …Rs. 16.5 per equity share…).
The corrected release reads:
LTI: FY19 CONSTANT CURRENCY REVENUES GROW 20.9%; NET PROFIT FOR THE
FULL YEAR UP 36.2%
Larsen & Toubro Infotech (BSE code: 540005) (NSE: LTI), a global
technology consulting and digital solutions company, announced its Q4
FY19 and full year FY19 results today.
Q4 FY19
In US Dollars:
-
Revenue at USD 353.8 million; growth of 2.0% QoQ and 14.5%
YoY -
Constant Currency Revenue growth of 1.9% QoQ and 17.5%
YoY
In Indian Rupees:
-
Revenue at Rs 24,860 million; growth at 0.5% QoQ and 24.2%
YoY -
Net Income at Rs 3,785 million; Net Income growth at 0.9%
QoQ and 30.8% YoY
Full year FY19
In US Dollars:
- Revenue at USD 1,349.1 million; growth of 19.1% YoY
- Constant Currency Revenue growth of 20.9% YoY
In Indian Rupees:
- Revenue at Rs 94,458 million; growth at 29.3% YoY
-
Net Income at Rs 15,155 million; Net Income growth at 36.2%
YoY
“We are happy to deliver a strong 21% YoY revenue growth in a rapidly
changing industry environment. Our sharp focus on amplifying business
outcomes for our clients is resonating well and enabling us to win
consistently.
We are also pleased to announce two large deals in Q4 with cumulative
net-new TCV in excess of US$100 million. We remain focused on building
differentiated capabilities and helping our customers with their digital
transformation.”
– Sanjay Jalona, Chief Executive Officer & Managing Director,
LTI
Recent Deal Wins
-
Multi-year multi-million large deal for transforming the global
application operations of an engineering equipment manufacturer -
A leading global re-insurer has selected LTI as its transformation
partner to assist in modernizing its IT landscape -
Global auto major selected LTI for implementing SAP S/4 HANA for its
trading and manufacturing arm to transform its IT landscape -
Global internet giant selected LTI to automate its HR services through
RPA implementation -
Selected by a pharma solutions company to provide technical and
functional support for its application systems -
Global oil major selected LTI to provide application, maintenance and
support services -
Awarded managed services deal for APAC operations of a US
headquartered pharma major - Awarded JDE support services contract by a public utilities enterprise
-
Leading North American insurance broker selected LTI for digitizing
its application stack
Client Testimonial
“We chose LTI because of its geographical and cultural proximity, and
record of working with large international companies on projects of this
scale. LTI managed to deliver the entire JDE implementation in a record
time of 12 months. We are also impressed by their deep understanding of
JDE, because of which they could challenge our established processes,
and adapt them to the Indian context.”
– Philippe Teisseire, CFO, BIC Cello India
Awards and Recognitions
-
Tops ITS Challengers List for the second consecutive year in Everest
Group’s PEAK Matrix IT Service Provider of the YearTM 2019 -
LTI has topped the Client Satisfaction Survey conducted by Whitelane
Research in France, for the second consecutive year -
LTI’s Mosaic recognized in The Forrester Tech TideTM:
Enterprise Business Insights And Analytics, Q1 2019 -
Positioned as an Innovator in Avasant’s Applied AI and Advanced
Analytics 2019 RadarView -
Named by the 1Q19 Global ISG Index as one of The Breakthrough 15 in
Global Sourcing Standouts
Other Business Highlights
-
The Board of Directors at its meeting held on May 2nd, 2019 have
declared a final dividend of Rs. 15.5 per equity share (Face value of
Re. 1) for the financial year 2018-19. Total dividend for FY19 is Rs.
28 per equity share, including the interim dividend of Rs. 12.5 per
equity share declared in October 2018. -
LTI acquired NIELSEN+PARTNER (N+P), an independent Temenos WealthSuite
specialist, headquartered in Hamburg, Germany. The company is
well-recognized for its market-leading capabilities in Temenos
WealthSuite, including Triple’ A Plus, Data Source and Channels -
Syncordis, a wholly owned subsidiary of Larsen & Toubro Infotech
(LTI), became a global services partner with Temenos -
Ranked at #25, LTI was recognized for developing one of the Top 100
Sustainability reports worldwide in the 2017-18 Vision Awards by
League of American Communications Professionals. -
For its industry-leading growth, BTVi recognized LTI as the Most
Admired Company of the Year 2018 -
The Board of Directors of the Company have appointed Mr. Nachiket
Deshpande, Chief Operating Officer of the Company as a Whole-time
director of the Company for a period of five years with effect from
May 2, 2019 till May 1, 2024 subject to shareholders approval at the
ensuing Annual General Meeting of the Company.
About LTI:
LTI (NSE: LTI) is a global technology consulting and digital solutions
Company helping more than 300 clients succeed in a converging world.
With operations in 30 countries, we go the extra mile for our clients
and accelerate their digital transformation with LTI’s Mosaic
platform enabling their mobile, social, analytics, IoT and cloud
journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited,
our unique heritage gives us unrivaled real-world expertise to solve the
most complex challenges of enterprises across all industries. Each
day, our team of more than 27,000 LTItes enable our clients to improve
the effectiveness of their business and technology operations and
deliver value to their customers, employees and shareholders. Find more
at http://www.Lntinfotech.com
or follow us at @LTI_Global
Connect with LTI:
-
Read our News
and Blogs -
Follow us on Twitter
and LinkedIn - Like us on Facebook
- Watch our videos on YouTube
Contacts
Media Contacts:
Neelian Homem
PR & Media Relations – India
+91-900-434-5540
[email protected]
Karin Bakis
PR & Media Relations – USA
+1-978-998-1578
[email protected]
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Cannabis
Sannabis, Inc. (OTC: USPS) Announces First Shipment of Cannabis Essential Oil from Colombia to U.S. to Fill First Order, as the DEA Re-Classifies Marijuana from Schedule I to Schedule III
Humboldt
Humboldt Seed Company partners with Apollo Green to bring California cannabis genetics to the global marketplace
Apollo Green to distribute Humboldt Seed Company clonal cannabis genetics to Germany, Portugal and Australia
SAN FRANCISCO, April 30, 2024 /PRNewswire/ — Humboldt Seed Company (HSC), California’s leading cannabis seed producer, has announced a partnership with Canadian-based Apollo Green to make eight breeder cuts available to researchers, licensed commercial cultivators and home growers in legal markets worldwide. This first-to-market clonal genetics release is a significant milestone and will expand access to distinctive, high-quality cannabis genetics in both established and emerging global markets including Germany, Portugal and Australia.
The curated, breeder-verified selection includes pioneering triploid genetics, such as OG Triploid and Donutz Triploid alongside the legendary cult classic Blueberry Muffin. Also available are All Gas OG with a THC content of 21% and four high-THC strains in the 30-35% range: Golden Sands, Guzzlerz, Jelly Donutz and Orange Creampop. These selections represent the top .01% from HSC’s extensive California pheno-hunting program.
Exports will begin in May under Apollo Green’s Canadian federal cannabis license. All shipments have Canadian phytosanitary certification, ensuring plants have been inspected, and are clean and free of pests.
“Access for all to quality genetics has been our core focus since the beginning,” said HSC Co-founder and Chief Science Officer, Benjamin Lind. “Our science-based approach to breeding aligns perfectly with Apollo Green’s high standards and we are excited to be able to extend these hand-selected cuts to a wider audience, especially at this pivotal time where we’re seeing positive regulatory changes globally.”
Oisin Tierney, Apollo Green Director of Business Development, said, “California has long been recognized for setting industry standards, and we are proud to play a role in bringing these esteemed genetics to cultivators worldwide. The triploids are especially noteworthy in terms of the unprecedented potential for enhanced plant vigor, higher yields, shorter flowering times and superior returns for solventless extraction.”
About Humboldt Seed Company
Established in 2001, Humboldt Seed Company is a Northern California heritage brand providing quality cannabis genetics to commercial cultivators and home growers in legalized states across the U.S. and international markets including Spain, Canada, Jamaica, South Africa, Colombia, France, Portugal, Greece, the UK, Malta and Thailand. With a focus on environmental and social justice, they combine traditional breeding and modern scientific practices in their strain development program. They have served the cannabis community for over two decades.
For more information visit https://humboldtseedcompany.com/.
About Apollo Green
Licensed since 2019, Apollo Green is Canada’s leader in cannabis genetics. The company’s mission is to provide an ever-growing bank of seeds and clones to medical patients and recreational consumers. Apollo Green provides clean, trusted cannabis seeds and clones, which are backed by the foremost tissue culture technology to reduce risks, costs and time-to-market for licensed producers around the world. Apollo Green is passionate about cannabis genetics.
For more information visit https://apollogreen.com/.
Media contact
Jaana Prall
[email protected]
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