IT firm LTIMindtree on January 16 reported 7.1% decline in consolidated net profit at Rs 1,086 crore for the December quarter of FY25 as against Rs 1,169 crore in the year-ago period amid a seasonally weak quarter for the IT sector due to holidays and higher furloughs in core markets like North America.
The net profit was down 13.2% on sequential basis.
The IT firm's revenue from operations rose to Rs 9,660 crore in Q3FY25 from Rs 9,016 crore in Q3FY24, an increase of 7.1% on an annual basis. Sequentially, it was up 2.4 percent.
The EBIT margin, or operating margin, decreased sequentially to 13.8 percent from 15.5 percent a quarter ago. In the same quarter last fiscal, operating margins stood at 15.4 percent.
LTIMindtree’s order book grew to $1.68 billion, its highest quarterly deal wins. This is an increase of 29% sequentially.
Debashis Chatterjee, Chief Executive Officer and Managing Director, LTIMindtree said: “We closed Q3FY25 with a revenue of $1.14 billion, registering a sequential growth of 1.8% in constant currency and 1.1% in USD terms. Our differentiated AI strategy has helped us record our highest-ever order inflow of $1.68 billion, laying the foundation for future growth. Our ongoing investments in AI, including new partnerships and specializations, and accolades, support our efforts to continue growing as we enter CY25.”
The company had a positive net headcount addition for the third consecutive quarter. LTIMindtree added 2,362 employees in Q3. Total headcount stood at 86,800 employees. Trailing 12 months attrition was 14.3 percent.
The company's Board of Directors had declared an interim dividend of Rs 20 per equity share of par value Rs 1 each.
On January 16, the company's shares closed trading 2.31% higher at Rs 5,970.95 apiece.
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