LTIMindtree Q3 results, LTIMindtree is now fifth biggest company by market value. LTIMindtree is just listed on NSE and BSE at 9 December 2022. LTIMindtre have more than 91,000 employees combined. LTIMindtree have platforms like LTI Infinity, Fosfor, LTI Canva and Mindtree Nxt , etc.
Shares of Mindtree were delisted and shareholders were allotted 73 shares of LTI for every 100 shares of Mindtree held. The parent company, Larsen & Toubro, held a 68.73% stake in the merged entity.
LTIMindtree Q3 Results Detail Analysis ?
IT major LTIMindtree on Friday reported a 4.7% YoY increase in net profit at Rs 1,000 crore in the December quarter of the current financial year to miss the Street estimate.
On the other hand, revenue recorded a YoY growth of 25.3% YoY to Rs 8,620 crore and exceeded expectations. The firm also declared an interim dividend of Rs 20 per equity share and record date is 31 January 2023.
In constant currency terms, the revenue was up 16.3% YoY. LTIMindtree’s gross margin decreased to 28.6% in Q3 as compared to 32.3% in the corresponding period of the year-ago quarter.
Management Share View on LTIMindtree Q3 Results
“The combined entity (after the merger of LTI and Mindtree) has started out with a $1 billion quarterly revenue run rate, a top-quartile constant currency year-over-year revenue growth of 16.3%, and a robust order inflow of $1.25 billion,” said Debashis Chatterjee, MD and CEO of LTIMindtree.
He said clients across sectors are evincing keen interest in the company’s unique value proposition spanning core to experience to the edge.
“The client imperative to dial up technology-led innovation for future readiness holds significant long-term upside for our full-stack offerings and cross-industry exposure, boosting our endeavor to deliver industry-leading revenue growth in the future as well,” Chatterjee said.