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LTIMindtree Profit Dips 4.6% Despite Revenue Growth
16 Oct
Summary
- Net profit fell 4.6% sequentially to Rs 1,398 crore in the September quarter.
- Revenue saw a 1.7% quarter-on-quarter increase, reaching Rs 11,808 crore.
- An interim dividend of Rs 25 per share was announced by the company.
LTIMindtree announced its financial results for the September quarter, revealing a 4.6% sequential decrease in net profit, which settled at Rs 1,398 crore. This comes as the company's revenue experienced a 1.7% quarter-on-quarter growth, amounting to Rs 11,808 crore.
Earnings before interest and tax (Ebit) registered a 2.2% increase, reaching Rs 1,839 crore. Concurrently, the Ebit margin saw a slight improvement of 10 basis points, standing at 15.6% for the period. The company has declared an interim dividend of Rs 25 per share.
Order inflow for the quarter declined by 0.3% sequentially to $1.26 billion, a figure crucial for assessing future revenue growth amidst global demand fluctuations. The total headcount at LTIMindtree was 87,886, with the attrition rate remaining stable at 13.3%.
The company's shares closed higher on the day of the announcement, showing a 3.66% increase. However, year-to-date performance indicates a decline of 28.17%.
