LTIMindtree Q2 net profit rises 7.7% to Rs 1,251 crore

IT solutions provider LTIMindtree on Thursday reported a 7.75 per cent year-on-year increase in its consolidated net profits to Rs 1,251 crore for the second quarter ended September 2024. It posted a profit of Rs 1,161 crore in the year-ago period, according to a regulatory filing.

Its revenue for the quarter under review came in at Rs 9,432 crore, 5.91 per cent higher than Rs 8,905 crore in Q2 FY24.

Seen sequentially, profit and revenue witnessed a rise of 10.41 per cent and 3.17 per cent, respectively.

"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," LTIMindtree CEO and MD Debashis Chatterjee said.

The company added 2,504 employees in the second quarter, bringing the total count to 84,438. As of September 30, 2024, the Mumbai-headquartered firm has 742 active clients.

Its board declared an interim dividend of Rs 20 per equity share of Rs 1 each.

Shares of LTIMindtree settled at Rs 6,401.5 apiece on the BSE on Thursday, 0.67 per cent higher from the previous close.