LTIMindtree Q3 Results: Profit Flat, Revenue Up 1.2%
The trailing 12-month attrition rate was at 14.2%, while total headcount stood at 82,471.
LTIMindtree Ltd.'s net profit stayed flat in the October–December quarter, even as the top line showed a marginal uptick.
Revenue of the L&T Group firm rose 1.24% over the previous three months to Rs 9,016.6 crore in the quarter ended December, according to an exchange filing on Wednesday. That compares with the Rs 9,076.7-crore consensus estimate of analysts tracked by Bloomberg.
LTIMindtree Q3 FY24 Earnings Highlights (QoQ)
Revenue up 1.24% at Rs 9,016.6 crore vs Rs 8,905.4 crore (Bloomberg estimate: Rs 9,076.7 crore).
EBIT down 2.62% at Rs 1,385.9 crore vs Rs 1,423.1 crore (Bloomberg estimate: Rs 1,458.1 crore).
EBIT margin at 15.37% vs 15.98% (Bloomberg estimate: 15.9%).
Net profit up 0.6% at Rs 1,169.3 crore vs Rs 1,162.3 crore (Bloomberg estimate: Rs 1,191.3 crore).
In dollar terms, the company reported a revenue growth of 0.8% sequentially at $1.08 billion, and a 0.1% rise in net profit at $140.5 million.
"Our strong operational performance in a seasonally weak quarter speaks about the organization's resilience amid the continuing macro challenges," Chief Executive Officer Debashis Chatterjee said. "We have booked our highest-ever order inflow at $1.5 billion, representing a 21% increase YoY."
The trailing 12-month attrition rate was at 14.2%, while total headcount stood at 82,471.
Shares of LTIMindtree closed 0.64% higher at Rs 6,274.45 apiece on the BSE, compared to a 2.23% decline in the benchmark Sensex. The quarterly results were declared after market hours.
