LTIMindtree reported a healthy performance for the fiscal third quarter with revenue growth in line with estimate, in the backdrop of a seasonally weak quarter due to furloughs, and EBIT margin was slightly below expectation, said brokerage firms. On January 16, LTIMindtree released its Q3 numbers with profit at Rs 1086.70 crore, posting a drop of 7.06 per cent in comparison to Rs 1169.30 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 9660.90 crore, up 7.15 per cent as against Rs 9016.60 crore reported during the third quarter of previous financial year. The company EBITDA stood at Rs 1329 crore. LTIMindtree recorded historic high order inflow at $1.68 billion, up 29 per cent sequentially.
Debashis Chatterjee, Chief Executive Officer and Managing Director, said, “We closed Q3FY25 with a revenue of $1.14 billion, registering a sequential growth of 1.8% in constant currency and 1.1% in USD terms. Our differentiated AI strategy has helped us record our highest-ever order inflow of USD 1.68 billion, laying the foundation for future growth. Our ongoing investments in AI, including new partnerships and specializations, and accolades, support our efforts to continue growing as we enter CY25.”
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An analysis report by Elara Capital said, “LTIMindtree’s Q3 performance was steady in the backdrop of a seasonally weak quarter due to furloughs. Deal wins came in strong at $1.68 billion in Q3. This is factoring in renewals, which typically see some bump-up in Q3 every year.”
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Centrum Broking also maintained, “The company reported revenue of Rs 96.6 billion (up 2.4% QoQ and 7.1% YoY in INR terms; up 1.1% QoQ and 5.1% YoY in USD terms). The sequential growth was led by BFSI (up 3.4% QoQ) and Manufacturing (up 8.1% QoQ). But, Healthcare & Life Sciences was down by 0.2% QoQ and Technology was down by 5.8% QoQ.
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