Organization showed resilience amid the continuing macro challenges, says Chatterjee
LTIMindtree [NSE: LTIM, BSE: 540005] has booked highest-ever order inflow at US$1.5 billion, representing a 21% increase YoY in a seasonally weak Q3.
“Our strong operational performance in a seasonally weak quarter speaks about the organization’s resilience amid the continuing macro challenges,” said the company CEO and MD Debashis Chatterjee, announcing its latest results for Q3 ended 31 Dec 2023.
“Our strong cash flow metrics helped us cross Rs.10,000 crore in cash and investment balance. These strong indicators make us confident to deliver on our path to success as we enter the new year,” he said on 17 Jan 2024.
The Mumbai-listed technology company reported a revenue of US$1.08 billion, a 3.5% YoY growth in USD terms, an EBIT margin of 15.4%, an increase of 150 bps YoY, and a PAT margin of 13%, an increase of 140 bps YoY.
Chatterjee reported deals:
A global leader in the design, engineering, and delivery of customized facilities for high-tech industries has selected LTIMindtree as their preferred strategic partner for their Digital Transformation journey over the next 5 years. LTIMindtree will drive transformation across the technology landscape through multiple services including Cloud Migration, End User Services, Security, and Application Development and Support.
A US-based premier oil and gas producer selected LTIMindtree as their strategic partner for end-to-end technology services. As part of the partnership, LTIMindtree will provide services across several value-based portfolios covering Digital Solutions, Platforms and Operations.
A diversified multinational mass media corporation has chosen LTIMindtree as their preferred ServiceNow transformation partner. This engagement will help unlock the value of their ServiceNow investments, improve ROI, and drive cost efficiency.
A leading US-based energy producer has expanded its infrastructure managed services scope with LTIMindtree.
A global financial services technology company has chosen LTIMindtree for its Product Development initiatives.
A utilities company in the Middle East continues to strengthen its relationship with LTIMindtree by signing another 3-year agreement where LTIMindtree will support their transformation journey by identifying areas of expansion and optimizing the technology landscape.
Key financial highlights:
– Revenue in USD at US$1,083.7 million (growth of 0.8% Q-o-Q / 3.5% Y-o-Y)
– Net profit at US$140.5 million (growth of 0.1% Q-o-Q / 15.6% Y-o-Y)
– Revenue in Indian Rupees at Rs.90,166 million (growth of 1.2% Q-o-Q / 4.6% Y-o-Y)
– Net profit at Rs.11,693 million (growth of 0.6% Q-o-Q / 16.8% Y-o-Y)
Nine Months ended December 31, 2023 (YTD FY24 vs YTD FY23)
– Revenue in USD at $3,217.9 million (growth of 5.6%)
– Net profit at US$421.1 million (growth of 2.7%)
– Revenue in Indian Rupees at Rs.2,66,241 million (growth of 8.7%)
– Net profit at Rs.34,839 million (growth of 5.7%)
Chatterjee said LTIMindtree had 739 active clients and employed 82,471 professionals as of 31 Dec 2023. Fiinews.com
