LTIMindtree Posts Strong Q2 FY25 Results With 7.7% Net Profit Growth
Revenue for the quarter stood at Rs 9,432.9 crore, up 3.2 per cent QoQ and 5.9 per cent YoY
LTIMindtree has posted decent results for the second quarter of FY25, with net profit rising by 10.3 per cent quarter-on-quarter (QoQ) to Rs 1,251.6 crore. This represents a year-on-year (YoY) increase of 7.7 per cent.
Revenue for the quarter stood at Rs 9,432.9 crore, up 3.2 per cent QoQ and 5.9 per cent YoY.
The company reported a growing client base, with the total number of active clients reaching 742 as of 30 September 2024.
LTIMindtree saw an increase in its high-value clients, with eight new clients contributing over USD 5 million each annually, bringing the total to 154. Additionally, the number of clients generating more than USD 20 million in revenue increased by one, now totaling 42.
On the human resources front, the company’s workforce grew to 84,438 professionals, adding 2,504 employees during the quarter. Attrition over the past 12 months was reported at 14.5 per cent.
The Board of Directors has approved an interim dividend of Rs 20 per equity share, showing continued confidence in the company’s financial health and future prospects.
Looking ahead, LTIMindtree said it remains cautiously optimistic despite acknowledging potential seasonal headwinds in the third quarter due to furloughs and fewer billing days. The company mentioned its strategic pivot towards artificial intelligence as a key factor driving a decent pipeline of deals. With deal wins and hiring momentum, LTIMindtree believes it is well-positioned for growth in the latter half of the fiscal year.
“Q2 was a good quarter marked by broad-based sequential growth experienced across all our verticals and geos, helping us register a dollar growth of 2.8 per cent. We had several multi-year deal closures, including a USD 200 million+ deal. Continued deal momentum in key verticals and significant Q2 hiring, including freshers, positions us well as we enter into the latter half of the fiscal year," said Debashis Chatterjee, Chief Executive Officer and Managing Director, LTIMindtree.
