LTIMindtree Reports Mixed Q1 FY25 Results: Revenue Growth Amid Profit Challenges
6 Sources
[1]
LTIMindtree Q1 net profit up 3.1% at Rs 1,135 crore
LTIMindtree's Q1 FY25 results show a 3.1% net profit growth but missed estimates. North America revenue contribution grew to 75.1% in the first quarter of this fiscal - highest since the official merger between the erstwhile IT firms, LTI and Mindtree. On a sequential basis, revenue grew
[2]
LTIMindtree Q1FY25 results: Net profit down by 1.5%; revenue surges 5%
LTIMindtree on Wednesday reported a consolidated net profit of ₹1,134 crore for the quarter ended June 30, 2024 -- down by 1.5 per cent from ₹1,152 crore reported by the company in the year-ago period. The revenue from operations for the reported quarter stood at ₹9,143 crore, higher by 5 per cent
[3]
LTIMindtree delivers 2.6% QoQ USD revenue growth in CC
EBIT Margin improves to 15% LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the first quarter ended June 30, 2024, as approved by its Board of Directors. "While the environment remains unchanged,
[4]
LTI Mindtree Q1FY25 results: Net profit down by 1.5%; revenue surges 5%
LTIMindtree on Wednesday reported a consolidated net profit of ₹1,134 crore for the quarter ended June 30, 2024 -- down by 1.5 per cent from ₹1,152 crore reported by the company in the year-ago period. The revenue from operations for the reported quarter stood at ₹9,143 crore, higher by 5 per cent
[5]
LTIMindtree delivers 2.6% QoQ USD revenue growth in CC
EBIT Margin improves to 15% LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the first quarter ended June 30, 2024, as approved by its Board of Directors. "While the environment remains unchanged,
[6]
LTIMindtree revenue rises 2.6% in June quarter
Bengaluru: LTIMindtree's revenue rose 2.6% in constant currency in the June quarter, riding on broad-based growth including an uptick in BFSI, technology businesses, and large deals. Its topline grew 3.7% year-on-year in constant currency. "The next quarter will be the same as this one, but it is
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LTIMindtree, a leading technology consulting and digital solutions company, announced its Q1 FY25 financial results, showing revenue growth but a slight decline in net profit. The company remains optimistic about future opportunities despite global economic uncertainties.
Financial Performance
LTIMindtree, a prominent player in the technology consulting and digital solutions sector, has released its financial results for the first quarter of the fiscal year 2025. The company reported a mixed bag of results, with revenue growth offsetting a slight decline in net profit.
The company's net profit for Q1 FY25 stood at ₹1,135 crore, representing a 3.1% year-on-year increase
1
. However, when compared to the previous quarter, there was a marginal decline of 1.5% in net profit2
.On the revenue front, LTIMindtree demonstrated strong performance. The company's revenue surged by 5% quarter-on-quarter, reaching ₹8,702 crore
2
. In USD terms, the revenue growth was 2.6% quarter-on-quarter in constant currency5
.Key Business Metrics
LTIMindtree's performance in Q1 FY25 was marked by several notable achievements:
- The company added 23 new clients during the quarter, bringing its total active client base to 738
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. - LTIMindtree's attrition rate decreased to 14.2%, down from 15.2% in the previous quarter
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. - The company's workforce grew to 82,738 professionals at the end of the quarter
3
.
Industry-wise Performance
LTIMindtree's revenue growth was driven by strong performances across various industry verticals:
- Banking, Financial Services, and Insurance (BFSI) sector grew by 3.1% quarter-on-quarter
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. - Manufacturing and Resources vertical saw a significant 8.4% quarter-on-quarter growth
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. - Hi-Tech, Media, and Entertainment segment experienced a 2.9% quarter-on-quarter increase
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.
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Management's Perspective
Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree, expressed optimism about the company's performance and future prospects. He stated, "We have started FY24 on a strong note with 8.2% YoY revenue growth in constant currency. Our diversified portfolio and resilient business model helped us navigate the prevailing macro environment"
5
.Future Outlook
Despite global economic uncertainties, LTIMindtree remains confident in its ability to capitalize on emerging opportunities. The company's focus on digital transformation, cloud services, and AI-driven solutions positions it well to meet evolving client needs and drive future growth
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.References
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