- In constant currency terms,
LTIMindtree posted revenue growth of 8.2% YoY for the June quarter. - The order inflow continued to increase and reached $1.41 billion in this quarter.
- “Our operational rigor helped us achieve an EBIT of 16.7% and PAT of 13.2%," said Debashis Chatterjee, CEO and MD.
Technology consulting and digital solutions company LTIMindtree posted a 4.1% year-on-year rise in net profit to ₹1,152 crore for the first quarter ended June 30. Revenue rose 13.8% to ₹8,702 crore for the period.
In constant currency terms, the company’s revenue rose 8.2% YoY for the June quarter. On a quarter-on-quarter basis, however, this revenue was almost flat at 0.1% growth.
“Our key verticals BFSI (banking, financial services and insurance), Manufacturing & Resources and Hi-Tech, Media, and Entertainment, which make up 75% of our revenues performed well,” said Debashis Chatterjee, chief executive officer and managing director.
“Our strategic programs are bearing fruit and is evident in the upward movement across our client buckets. The order inflow continued to increase and reached $1.41 billion in this quarter,” he added.
The company has 723 active clients as of June 30, 2023. During the quarter, $5 million+ clients increased by 18 on a YoY basis, while $10 million+ clients increased by 9 and $50 million+ clients increased by 3.
“Our operational rigor helped us achieve an EBIT of 16.7% and PAT of 13.2%," Chatterjee added. EBIT is earnings before interest and taxes, while PAT refers to profit after tax.
At the end of the quarter, the company had 82,738 professionals with the trailing 12 month attrition at 17.8%.
Among the deals won during the quarter are a deal from one of the largest property & casualty insurance companies in the United States, which has chosen LTIMindtree as a strategic partner for a multi-year application development and maintenance deal.
Shares of the company were trading 2.5% lower at ₹5,006 in morning trade on the NSE. Meanwhile, the Nifty50 was up 0.45%.