LTIMindtree Q1 Results Revenue Reaches to ₹9,142.60 Crores Despite Yearly Decline

LTIMindtree Quarterly Comparison

LTIMindtree Q1 Results: LTIMindtree released its Q1 results for the fiscal year ending June 2024. The table shows important financial figures compared to previous quarters. The total revenue for June 2024 was ₹9,142.60 crores, which is a small increase compared to ₹8,691.00 crores in March 2023. This reflects a positive quarter-on-quarter (QoQ) growth. However, when looking at the year-over-year (YoY) comparison, the revenue is slightly down from ₹8,702.10 crores in June 2023, indicating a decline in revenue over the year.

LTIMindtree’s Selling, general, and admin expenses rose to ₹5,887.10 crores in June 2024, up from ₹5,580.70 crores in March 2023, showing a QoQ increase. Yet, these expenses have also increased compared to ₹5,598.70 crores in June 2023, which signifies rising costs year-over-year (YoY).

LTIMindtree’s net income for this quarter was ₹1,133.80 crores, which is a slight increase from ₹1,113.70 crores in the previous quarter. On a YoY basis, it dropped from ₹1,151.50 crores last year. Overall, the year-over-year (YoY) results show mixed signals, with some improvements QoQ but challenges when comparing to the same quarter last year.

Here are the quarterly results for LTIMindtree for Q1 of the fiscal period ending in June 2024, with comparisons to the previous quarters:

(₹ in crores)

Source: Here 

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LTIMindtree Q1 Results

LTIMindtree has recently published its financial results for the quarter that ended on June 30, 2024. During this period, the company earned a total income of ₹93,697 million, which is an increase from ₹91,005 million in the previous quarter (March 31, 2024). This income primarily comes from its core business operations, amounting to ₹91,426 million, along with ₹2,271 million from other income sources. However, the company's expenses also grew, totaling ₹78,441 million compared to ₹76,522 million last quarter. Significant expenses included employee benefits at ₹58,871 million, subcontracting costs at ₹6,561 million, and finance costs at ₹724 million.

LTIMindtree reported a profit before tax of ₹15,256 million, which is higher than the ₹14,483 million reported in the last quarter. After deducting taxes of ₹3,905 million, the net profit for the quarter was ₹11,351 million, a slight increase from ₹11,007 million in the previous quarter. Additionally, the earnings per share (EPS) improved to ₹38.30 from ₹37.16. These results show that LTIMindtree is experiencing steady growth, with increased income and profits, indicating a positive outlook for the company despite the rising costs. All figures are presented in millions of rupees, except for earnings per share.

Here's a simplified summary of the Statement of Consolidated Financial Results for the quarter ended June 30, 2024:

(Rs. in million, except per share data)

LTIMindtree Stock Performance

LTIMindtree is a company with a market capitalization of ₹ 1,84,015 crore, meaning it is valued at this amount in the stock market. The current share price is ₹ 6,213. Over the past year, the stock has reached a high of ₹ 6,575 and a low of ₹ 4,514, showing some price fluctuations. The price-to-earnings (P/E) ratio is 40.3, which indicates how much investors are willing to pay for each unit of earnings. The book value of the company is ₹ 676, and it offers a dividend yield of 1.04%, which is the return on investment from dividends. 

Here's a summary of the provided financial data:

Quarterly Results

The LTIMindtree table shows quarterly financial results over three months. In December 2023, sales were high at 9,017 crores, with a profit of 1,169 crores and earnings per share (EPS) at 39.49. March 2024 saw slightly lower sales of 8,893 crores, leading to a profit decrease to 1,101 crores and an EPS of 37.14. In June 2024, sales increased to 9,143 crores, with profit rising again to 1,135 crores and an EPS of 38.28.

Here’s the summary of the quarterly results for December 2023, March 2024, and June 2024:

(Consolidated Figures in Rs. Crores)

About LTIMindtree

LTIMindtree is a large Indian technology company that provides information technology services and consulting. It is based in Mumbai and is part of the Larsen & Toubro group, which owns 68.73% of the company. LTIMindtree was founded on December 23, 1996, as L&T Information Technology. Over the years, the company has changed its name and brand, becoming L&T Infotech and later LTIMindtree in 2017. The company has grown significantly and now employs over 81,000 people worldwide.

LTIMindtree offers a wide range of services, including software development, consulting, and outsourcing. It works with clients in various industries, helping them solve problems and improve their businesses through technology. The company went public in 2016, raising about ₹1,243 crore (around US$185 million) through an initial public offering (IPO). LTIMindtree focuses on innovation and has achieved high standards in software development. It has also made efforts to expand by attempting to acquire other technology companies. Overall, LTIMindtree is recognized for its expertise and global presence in the IT industry, making it a key player in providing technology solutions.