LTIMindtree, a global provider of digital solutions and technology consultancy, announced on Wednesday that its consolidated net profit for the April–June quarter was Rs 1,135 crore, a 1.5% decline from Rs 1,152 crore during the same period last year.
On a sequential basis, however, the net profit increased by 3%. Revenue for the company increased by 5.1% YoY to Rs 9,142 crore ($1.1 billion) in the first quarter of FY25 from Rs 8,702 crore in Q1 FY24.
Debashis Chatterjee, CEO and Managing Director of LTIMindtree, stated, “Fiscal 25 started on a positive note for us with Q1FY25 revenue of $1.1 billion, registering a 2.5 per cent QoQ and 3.5 per cent YoY revenue growth (in USD terms).”
The company’s shares ended Tuesday trading 1.75 percent higher at Rs 5,574 a share.
“Our largest geography and the top three industry verticals have both done strongly over the past few months. This is explained by a controlled increase in IT investment for important projects, with clients striking a balance between creativity and thrift,” Chatterjee said.
With effect from June 27, LTIMindtree named veteran S.N. Subrahmanyan (Vice-Chairman) as Chairman after A.M. Naik chose to resign from the position late last month. With more than 81,000 specialists spread across more than 30 countries, LTIMindtree serves as a digital transformation partner to over 700 clients.
