LTIMindtree Announces Interim Dividend Of Rs 20
LTI Mindtree's board has fixed Oct. 25 as the record date for the purpose of dividend payment, according to an exchange filing on BSE.
(Source: LTI Mindtree Website)
LTI Mindtree Ltd. announced on Thursday an interim dividend of Rs 20 per equity share for fiscal 2025.
The board has fixed Oct. 25 as the record date for the purpose of dividend payment, according to an exchange filing on BSE.
The company's board of directors approved the closure of LTIMindtree Spain S.L. and LTIMindtree LLC, which were wholly-owned subsidiaries of the company, as a part of the entity rationalisation program.
The firm announced it's Q2 results on Thursday, reporting a rise of 3.2% in its revenue to Rs 9,432.90 crore in the quarter ended September. The revenue met the estimates of Bloomberg analysts.
The firm reported a rise of 10% in its profit to Rs 1,251.60, meeting the estimate of Rs 1,226 crore from Bloomberg analysts.
The company said that earnings before interest and taxes was Rs 1,458.20 against a Bloomberg estimate of Rs 1,462 crore, whereas the Ebitda margin contracted to 15.5% from 18.4%.
The firm unveiled its latest digital transformation platform on Oct. 10, known as Smart Spaces 2.0. It is focused on environmental, social, and governance initiatives. This platform is designed to enable both new and existing buildings to integrate the latest Internet of Things devices.
Users can access crucial data on operational and environmental metrics, including energy consumption, emissions, water usage, and waste management. The goal of Smart Spaces 2.0 is to drive cost savings and enhance operational efficiency for investors, landlords, building managers, and tenants in residential and commercial spaces.
Shares of LTI Mindtree closed 0.77% higher at Rs 6,394.45 apiece on the NSE, compared to a 0.89% decline in the benchmark Nifty 50. The stock has risen 1.80% on a year-to-date basis and 22.91% over the past 12 months.
The stock closed 1.06% higher at Rs 6426.90 per share.
Out of the 39 analysts tracking the company, 20 have a 'buy' rating on the stock, eight suggest a 'hold' and 11 recommend a 'sell', according to Bloomberg data. The average of 12-month analysts' consensus price targets implies a potential downside of 4.6%.
