LTIMindtree’s shares will be important on Friday, January 17, after the company shared its earnings for the last quarter. Here’s what you need to know:
– Profit Drop: For the quarter ending December 31, 2024, LTIMindtree’s net profit fell by 7.1%, reaching Rs 1,085 crore compared to Rs 1,169 crore last year.
– Revenue Growth: The company’s revenue grew by 7.1% to Rs 9,661 crore in this quarter, up from Rs 9,017 crore in the same period last year. But, when compared to the previous quarter, the profit after tax fell by 13.2% from Rs 1,251 crore.
– Dollar Revenue: LTIMindtree earned $1,138.7 million, showing a small increase of 1.1% from the last quarter and a bigger rise of 5.1% compared to last year.
– Operating Margin: The earnings before interest and taxes (EBIT) margin was at 13.8%, but this dropped by 170 basis points from the previous quarter, mainly due to wage increases.
Positive Outlook: Global investment firm Macquarie still rates LTIMindtree as ‘Outperform’ with a target price of Rs 7,100. They believe that despite some challenges, including problems with a top client, the company has potential for growth, especially as demand is expected to rise in 2025.
LTIMindtree’s CEO Comments: Debashis Chatterjee, the CEO, mentioned, “We have recorded our highest-ever order inflow of USD 1.68 billion, thanks to our investments in AI and new partnerships. This gives us a strong path for growth as we move into 2025.”
Segment Revenue Details:
– Banking, financial services, and insurance brought in 36.4%.
– Technology, media, and communications contributed 23.7%.
– Manufacturing & resources gave 19.3%.
– The consumer business made up 14.3%.
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