Blitz Bureau
NEW DELHI: Global technology consulting and digital solutions company LTIMindtree on July 17 reported that its consolidated net profit was Rs 1,135 crore for the April-June quarter. The net profit rose 3 per cent on a sequential basis. The company’s revenue went up to Rs 9,142 crore ($1.1 billion) in the first quarter of FY25, from Rs 8,702 crore in Q1 FY24, a jump of 5.1 per cent YoY.
“While the environment remains unchanged, fiscal 25 started on a positive note for us with Q1FY25 revenue of $1.1 billion, registering a 2.5 per cent QoQ and 3.5 per cent YoY revenue growth (in USD terms),” said Debashis Chatterjee, CEO and Managing Director, LTIMindtree.
The company’s shares closed 1.75 per cent higher at Rs 5,574 apiece on July 16. “Our top three industry verticals and our largest geography have performed well sequentially. This is attributed to a measured uptick in IT spending for critical initiatives with clients balancing innovation and fiscal prudence,” said Chatterjee.
Late last month, LTIMindtree appointed veteran SN Subrahmanyan (Vice-Chairman) as Chairman with effect from June 27, as A.M. Naik decided to step down from the post. As a digital transformation partner to more than 700 clients, LTIMindtree has more than 81,000 professionals across more than 30 countries.
