LTIMindtree Reports 4.7% Revenue Growth in Q2, Adds Over 2,500 Employees

Technology consulting and digital solutions company LTINmindtree reported $1.12 billion in revenue in the quarter ended September 30, a 4.7 per cent growth (year-on-year).The company clocked net profit of $149.5 million, a 6.5 per cent year-on-year(YoY) growth, and added 2,504 employees.

Q2 was a good quarter marked by broad-based sequential growth experienced across all our verticals and geographies, helping us register a dollar growth of 2.8 per cent," CEO and MD Debashis Chatterjee said.

The company's stock closed at Rs 6,408 apiece, up marginally by 0.77 per cent and witnessed several multi-year deal closures, including a deal over $200 million in the quarter, Chatterjee said.

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," Chatterjee noted.The firm also added that it now has 84,438 employees, with the latest addition of 2,504 workers.

The board of directors have approved an interim dividend of Rs 20 per equity share of par value Rs 1 each.In the quarter, the company had collaborated with Google to accelerate global business growth and to drive cloud transformation for customers. LTIMindtree and Microsoft together looked to amplify digital transformation for joint customers by using Microsoft Azure.

As GenAI becomes the centerpiece of customer interactions, the data estate is in the process of modernization efforts. "Our strong practice in data combined with our innovative LTIMindtree AI platform makes us a major disruptor," said the CEO.

LTIMindtree reported consolidated net profit at Rs 1,135 crore for the quarter ended June 30, down 1.5 per cent from the corresponding year-ago period at Rs 1,152 crore. However, net profit is up by 3 per cent sequentially.