LTIMindtree Q4 Net Profit Rises Marginally To Rs 1,114 Crore

IT company LTIMindtree on Thursday posted a 0.5 per cent year-on-year rise in consolidated net profit to about Rs 1,114 crore for the March 2023 quarter.

Seen sequentially, the net profit grew 11.3 per cent over the December quarter.

The revenue from operations for the just-ended quarter stood at Rs 8,691 crore, which translated into growth of 21.9 per cent year-on-year and 0.8 per cent quarter-on-quarter. 

For the year ended March 31, 2023, the net profit at Rs 4,410.3 crore, represented a growth of 11.7 per cent.

LTIMindtree registered 27.1 per cent year-on-year growth in revenue from operations to Rs 33,183 crore for the full fiscal.     

LTIMindtree Chief Executive Officer and Managing Director Debashis Chatterjee said the revenue growth was broad-based.

"This industry-leading performance positions us well to deliver continued profitable growth in FY24. As we move to unified systems and processes, we are ready to exploit the synergies," he said.

The company added 31 new clients in Q4 and increased its count of $50 million plus customers. 

"Our full-year operating margin was at 16.2 per cent and the basic EPS (earnings per share) was at Rs 149.1. Client requirements have changed over the last quarter, and we are now meeting the new requirements to deliver cost savings, which are being directed to fund in-flight transformation programmes," Chatterjee said.