On Saturday, IT company Larsen and Toubro Infotech reported a nearly 23 per cent growth in its consolidated net profit at Rs 679.8 crore for the July-September quarter of 2022. In the same quarter a year ago, the firm had registered a net profit of Rs 551.7 crore.

The revenue from operations of Larsen and Toubro Infotech increased by 28.39 per cent to Rs 4,836.7 crore during the quarter under review from Rs 3,767 crore in the year-ago period.

Reportedly, the company is amalgamating Mindtree with itself, which its shareholders and unsecured creditors approved in August. The said merger will be completed after LTI submits certified copies of the NCLT benches’ orders before the Registrar of Companies. The merged firm is likely to bring together complementary portfolios and a large customer base creating extraordinary value for all stakeholders

Founded in 1996, Larsen & Toubro Infotech (LTI) is an information technology services and consulting company. A subsidiary of Larsen & Toubro, LTI is headquartered in Mumbai and employs more than 46,000 people.