The recently merged entity LTIMindtree has reported 15.82 per cent quarter-on-quarter(q-o-q) fall in net profit at ₹10,00.7 crore. On a year-on-year(y-o-y) basis, profits were up by 4.7 per cent.
Revenue from operations stood at ₹8,620 crore, a 4.8 per cent increase q-o-q and 25.3 per cent increase y-o-y. In dollar terms, revenues stood at $1,046.7 million, up 2.4 per cent q-o-q and 14 per cent y-o-y.
Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree said, “The combined entity has started out with a $1 billion quarterly revenue run rate, a top-quartile constant currency year-over-year revenue growth of 16.3 per cent, and a robust order inflow of $1.25 billion. Our performance speaks to our steadfast client focus through the merger and our resilient client and solutions portfolio.”
The company’s gross margin fell to 28.6 per cent in contrast to 32.3 per cent in the corresponding period of the year-ago quarter. LTIMindtree had 86,462 employees at the end of December quarter, the trailing 12-months attrition was at 22.3 per cent. The total active client tally stood at 723 for the quarter.
“Clients across sectors are evincing keen interest in our unique value proposition spanning core to experience to edge. The client imperative to dial up technology-led innovation for future-readiness holds significant long-term upside for our full-stack offerings and cross-industry exposure, boosting our endeavour to deliver industry-leading revenue growth in the future as well,” Chatterjee added.
The company has also declared an interim dividend of ₹20 per equity share of ₹1 each. The interim dividend shall be paid within 30 days of declaration to those shareholders. This is the first quarterly report post the merger of erstwhile Mindtree and L&T Infotech. The comparison of the quarterly numbers have been made by combining the performance of both entities.