"LTIMindtree Reports 16.8% Year-on-Year Increase in Net Profit for December Quarter"

LTIMindtree reported a 16.8% year-on-year increase in net profit to Rs 1,169 crore for the December quarter of the current financial year 2024. This growth was driven by an all-time high quarterly order book. However, the company's net profit increased only 0.6% sequentially, slightly below Moneycontrol's estimates of Rs 1,181 crore.

Consolidated revenue stood at Rs 9,016 crores, marking a 4.6% year-on-year and 1.2% quarter-on-quarter increase. This figure slightly missed Moneycontrol's estimate of Rs 9,050 crores.

The EBIT margin or operating margin dropped sequentially to 15.4% from 16% in the last quarter, remaining below Moneycontrol's estimate of 16%.

Debashis Chatterjee, CEO of LTIMindtree, commented on the company's strong operational performance in a seasonally weak quarter, highlighting the organization's resilience amid continuing macro challenges. He noted a revenue of $1.08 billion, a 3.5% year-on-year growth in USD terms, an EBIT margin of 15.4%, a 150 bps year-on-year increase, and a PAT margin of 13%, a 140 bps year-on-year increase.