LTIMindtree shares decline over 2% after brokerages trim target price post-Q4 results

LTIMindtree share price, LTIMindtree share price target, LTIMindtree Q4 results 2024: LTIMindtree shares on Thursday, April 25 declined over two per cent after major brokerages trimmed target price following the country's fifth largest IT company by market value's Q4 earnings report that missed Street's estimates. The IT stock declined as much as 2.86 per cent to the day's low of Rs 4,591.5 on NSE in morning deals, extending the falling trend for the second day. The counter closed at Rs 4,637, down 1.9 per cent on NSE. 

LTIMindtree Q4 results

On Wednesday, LTIMindtree, the country's fifth largest IT company by market value, posted a consolidated net profit of Rs 1,099.9 crore for the January-March period, down 5.9 per cent on a quarter-on-quarter basis and falling short of analysts' expectations. Its fourth-quarter revenue declined 1.4 per cent sequentially to Rs 8,892.9 crore, according to a regulatory filing. 

According to Zee Business research, Mumbai-headquartered LTIMindtree's March-quarter net profit was estimated at Rs 1,150 crore and revenue at Rs 8,930 crore.LTIMindtree logged Rs 1,308.7 crore in earnings before interest and taxes (EBIT) for the March quarter as against Rs 1,386 crore crore for the October-December period. Read more on LTIMindtree Q4 results 

LTIMindtree dividend

The IT firm declared a final dividend of Rs 45 per equity for the financial year 2023-24.

LTIMindtree share price target

For all other news related to business, politics, tech and auto, visit Zeebiz.com.