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LTIMindtree Q1FY24 consolidated net profit at Rs 1,152 crore

Jul 17, 2023

By: BlinkX Research Team

LTIMindtree, a global technology consulting and digital solutions company, announced its consolidated results today for the first quarter ended June 30, 2023, as approved by its Board of directors.

The company reported a 4.12% YoY increase in net profit to Rs 1,152 crore from Rs 1,106 crore in the same quarter last year. The company’s revenue from operations rose 13.8% YoY to Rs 8,702.1 crore from Rs 7,644 crore last year. 

In constant currency (CC) terms, the company's revenue grew 8% YoY. The company posted earnings before interest, tax, depreciation and amortisation (Ebitda) of Rs 1,635 crore in the June quarter, up 9% YoY. 

Meanwhile, Ebitda margins declined to 18.8% for the quarter under review as against 19.5% in the year-ago period.

“During the first quarter of FY24, LTIMindtree delivered 8.2% YoY revenue growth in Constant Currency. Our key verticals BFSI, Manufacturing & Resources and Hi-Tech, Media, and Entertainment which make up 75% of our revenues performed well. Our strategic programs are bearing fruit and are evident in the upward movement across our client buckets. The order inflow continued to increase and reached USD 1.41 billion in this quarter. Our operational rigor helped us achieve an EBIT of 16.7% and PAT of 13.2%,” Debashis Chatterjee, Chief Executive Officer and Managing Director said.

Source: Media reports