LTIMindtree Q4 earnings: Net profit at Rs 1,100 crore, final dividend declared

LTIMindtree reported a 1.2% fall in net profit to Rs 1,100.7 crore in Q4 against Rs 1114.1 crore profit in Q4 of the last fiscal. Net profit in Q3 of last fiscal stood at Rs 1,169.3 crore for the IT and software consulting firm. The board of LTIMindtree declared a final dividend of Rs 45 per share. Revenue rose 2.3% to Rs 8,892.9 crore in Q4 against Rs 8,691 crore in the corresponding quarter of the previous fiscal. In Q3, revenue stood at Rs 9016.6 crore falling 5.9% sequentially.

EBIT fell 8% to Rs 1308.7 crore in Q4 for the IT firm against Rs 1421.4 crore in the corresponding period of the previous fiscal. EBIT in Q3 of the last fiscal stood at Rs 1385.9 crore, falling 5.6% on a sequential basis. 

EBIT margin came at 14.72% in Q4 against 15.4% in the December 2023 quarter.  In March 2023 quarter, EBIT margin came at 16.4%  

Revenue in dollar terms came at $1069.4 million in the March 2024 quarter , up 1.1% from $1057.5 million in the March 2023 quarter. Revenue in Q3 stood at $1083.7, down 1.3% sequentially.

The earnings were announced after market hours today. The IT stock closed 0.23% higher at Rs 4732.55 on BSE. Total 0.74 lakh shares of LTIMindtree changed hands amounting to a turnover of Rs 34.77 crore on Wednesday. 

Market cap of the firm rose to Rs 1.40 lakh crore. The share has gained 13.14% in one year but lost 25% since the beginning of this year. 

The share fell to a 52-week low of Rs 4152.60 on April 26, 2023 and a 52 week high of Rs 6442.65 on January 15, 2024. The stock has a beta of 0.5, indicating low volatility in a year.  

In terms of technicals, the relative strength index (RSI) of LTIMindtree stands at 32.9, signaling it's trading neither in the overbought zone nor in the oversold zone. LTIMindtree shares stand lower than the 20 day, 50 day,  100 day, 150 day and 200 day moving averages.