LTIMindtree reports 7.7% rise in profit

LTIMindtree, sixth largest Indian IT services company reported a 7.7% year-on-year (YoY) rise in net profit at Rs 1251.6 crore. The profit compares with Rs 1,162 crore in September last year.

Sequentially, profit grew 10.3% from Rs 1,135 crore.

The Mumbai-headquartered IT services company reported a 5.9% growth in consolidated revenues at Rs 9,432.9 crore in Q2FY25 as compared with Rs 8905.4 crore in Q2FY24 and 3.2% rise from Rs 9142.6 crore in Q1FY25.


In dollar terms, the revenue was up by 4.7% YoY at $1.13 billion, and on a quarter-on-quarter basis rose by 2.8%.

"Q2 was a good quarter marked by broad-based sequential growth experienced across all our verticals and geographies... We had several multi-year deal closures, including a $200 million plus deal. Continued deal momentum in key verticals and significant Q2 hiring, including freshers, positions us well as we enter into the latter half of the fiscal year," said Debashis Chatterjee, chief executive officer and managing director.

Operating margins for the September quarter came in higher at 15.5%, up 50 basis points (bps- 0.50%) from 15% in the previous quarter. It is from a year ago's margin of 16%.

More than a third of the company's business comes from the banking, financial services and insurance vertical and three-fourth of the business from North America.