LTIMindtree Q1 earnings: Net profit falls to Rs 1,134 crore, revenue rises 5%
LTIMindtree Q1 earnings: Net profit came at Rs 1133.8 crore in Q1 against Rs 1151.5 crore in June 2023 quarter. Consolidated revenue from operations for the quarter stood at Rs 9142.6 crore.
- Jul 17, 2024,
- Updated Jul 17, 2024 5:27 PM IST
LTIMindtree, the software and consulting major, reported a 1.53% fall in net profit (attributable to shareholders) for the quarter ended June 2024. Net profit came at Rs 1133.8 crore in Q1 against Rs 1151.5 crore in June 2023 quarter. Consolidated revenue from operations for the quarter stood at Rs 9142.6 crore, reflecting a 5.06% rise compared to Rs 8702.1 crore in the corresponding quarter of the previous financial year.
Sequentially, profit in Q1 climbed 3.08% against Rs 1099.9 crore reported in the January-March quarter.
Earnings per share (EPS) of the firm fell to Rs 38.30 per share in Q1 against Rs 38.92 EPS in the June 2023 quarter.
The firm had 748 active clients as of June 30, 2024, it said.
Its $1 million plus clients increased by 2 on a Y-o-Y basis, amounting to a total of 390. Its $20 million plus clients increased by 3 on a Y-o-Y basis, amounting to a total of 43.
EBITDA margins in Q1 fell to 17.6% against 18.8% margins on a year on year basis. In Q4 of last fiscal, margins stood at 17.3%.
Earnings before interest and taxes (EBIT) came at Rs 1370.9 crore in the June 2024 quarter against Rs 1450.8 crore in the June 2023 quarter. EBITDA came at Rs 1606.1 crore in the June 2024 quarter against Rs 1635.5 crore in the June 2023 quarter, falling 1.8% on a year on year basis.
Debashis Chatterjee, Chief Executive Officer and Managing Director of the firm said, "While the environment remains unchanged, fiscal 2025 started on a positive note for us with Q1FY25 revenue of $1.1 billion, registering a 2.5% QoQ and 3.5% YoY revenue growth in USD terms. Our Q1FY25 EBIT expanded to 15% and order inflow remained stable at $1.4 billion. Our top 3 industry verticals and our largest geography have performed well sequentially. This is attributed to a measured uptick in IT spending for critical initiatives with clients balancing innovation and fiscal prudence."
LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies.
LTIMindtree, the software and consulting major, reported a 1.53% fall in net profit (attributable to shareholders) for the quarter ended June 2024. Net profit came at Rs 1133.8 crore in Q1 against Rs 1151.5 crore in June 2023 quarter. Consolidated revenue from operations for the quarter stood at Rs 9142.6 crore, reflecting a 5.06% rise compared to Rs 8702.1 crore in the corresponding quarter of the previous financial year.
Sequentially, profit in Q1 climbed 3.08% against Rs 1099.9 crore reported in the January-March quarter.
Earnings per share (EPS) of the firm fell to Rs 38.30 per share in Q1 against Rs 38.92 EPS in the June 2023 quarter.
The firm had 748 active clients as of June 30, 2024, it said.
Its $1 million plus clients increased by 2 on a Y-o-Y basis, amounting to a total of 390. Its $20 million plus clients increased by 3 on a Y-o-Y basis, amounting to a total of 43.
EBITDA margins in Q1 fell to 17.6% against 18.8% margins on a year on year basis. In Q4 of last fiscal, margins stood at 17.3%.
Earnings before interest and taxes (EBIT) came at Rs 1370.9 crore in the June 2024 quarter against Rs 1450.8 crore in the June 2023 quarter. EBITDA came at Rs 1606.1 crore in the June 2024 quarter against Rs 1635.5 crore in the June 2023 quarter, falling 1.8% on a year on year basis.
Debashis Chatterjee, Chief Executive Officer and Managing Director of the firm said, "While the environment remains unchanged, fiscal 2025 started on a positive note for us with Q1FY25 revenue of $1.1 billion, registering a 2.5% QoQ and 3.5% YoY revenue growth in USD terms. Our Q1FY25 EBIT expanded to 15% and order inflow remained stable at $1.4 billion. Our top 3 industry verticals and our largest geography have performed well sequentially. This is attributed to a measured uptick in IT spending for critical initiatives with clients balancing innovation and fiscal prudence."
LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies.