Sequentially, net profit improved by 11 per cent while revenue grew 8.8 per cent.
Earnings Before Interest and Taxes (EBIT) margin stood at 17.2 per cent up from 16.4 per cent in the first quarter.
“We are happy to report the strongest sequential revenue growth and best-ever Q2 of 8.9 per cent in constant currency terms. As we cross the $2 billion annual revenue run rate, we continue to remain committed to growth in the future,” said Sanjay Jalona, chief executive and managing director, LTI.
The company declared an interim dividend of Rs 15 per share.
The banking and insurance segment contributes nearly half to LTI’s business.
During the quarter, the banking and financial services vertical grew 9.9 per cent, while insurance increased by 5.6 per cent to make up for 46.7 per cent of the revenue stream.
The manufacturing vertical grew 12.4 per cent sequentially during the quarter.
In terms of geography, North America grew 8.9 per cent during the quarter, while Europe was up 5.1 per cent.
LTI’s attrition rate rose sharply to 19.6 per cent during the quarter ended September 30 compared to 15.2 per cent in Q1. Headcount was up by over 4,000 to 42,382 employees.
“We are witnessing strong demand and are rapidly scaling up on the supply-side with our headcount up 31 per cent year on year,” Jalona said.
During the second quarter, it added one client to the $50 million bucket, three clients to its $20 million category and five clients in the $10 million list.
LTI was selected by a European company for a global end-to-end managed services deal.
It was also selected by an Indian private bank to create a data platform on Cloud, spanning functions such as retail, NRI, wealth, corporate, risk, finance, operations and HR.