18-Jan-2024
2 mins read
On January 17, 2024, LTIMindtree reported a Net profit of Rs 1,169 crore for the December quarter. It is an increase of 16.8% on a year-on-year basis. Despite the positive earnings, LTIMindtree’s share price fell 10% on January 18, 2024.
LTIMindtree: The Consolidated Revenue Picture
The consolidated revenue stood at Rs 9,016 crore, which increased by 1.2% on a quarter-on-quarter basis. Moreover, the consolidated revenue grew by 6.6% on a year-on-year basis. The EBIT margin or operating margin declined to 15.6% from 16% in the last quarter. It might be one of the reasons which negatively impacted the share price.
The IT services and consulting company, LTIMindtree CEO Debashis Chatterjee, said: “Our strong operational performance in a seasonally weak quarter speaks about the organisation’s resilience amid the continuing macro challenges”.
“For the quarter, we reported a revenue of $ 1.08 billion, a 3.5% YoY growth in USD terms, an EBIT margin of 15.4%, an increase of 150 bps YoY, and a PAT margin of 13%, an increase of 140 bps YoY”, he added.
LTIMindtree Booked the Highest Ever Order Inflow
The company’s management also mentioned that they had booked the highest-ever order inflow at $1.5 billion, representing an increase of 21% on a year-on-year basis.
The strong cash flow metrics helped LTIMintree to cross Rs 10,000 crore in cash and cash investment balance. The management seems positive and confident about the company’s future outlook, which is good for investors in the long run.
On January 18 2024, the stock price of LTIMindtree closed at Rs 5603 with an intraday decline of 10.72%.