LTIMindtree, a provider of IT solutions, announced on Thursday that its consolidated net profits for the second quarter ended September 2024 increased by 7.75% year over year to Rs 1,251 crore. In the same time last year, it reported a profit of Rs 1,161 crore, according a regulatory filing.
LTIMindtree Q2 results 2024
LTIMindtree announced on Thursday that its net profit for the July–September quarter of FY25 (Q2 FY25) increased by 7.7% year-over-year (Y-o-Y) to Rs 1,251.6 crore. On a sequential basis, it increased by 10.3%. In the meantime, revenue for Q2 FY25 climbed by 3.2 percent QoQ and 6% Y-o-Y to Rs 9,432.9 crore.
Analysts stated that the data largely matched Street predictions. Within the Technology, Media, and Communication segment, there was a Y-o-Y gain of 12% and a Q-o-Q increase of 1.9%. The BFSI increased 2.3% year over year and 4% sequentially. Manufacturing and resources saw increases of 5.8% year over year and 0.7% quarter over quarter. Aside from that, the business signed many multi-year contracts in Q2 and received $1.3 billion in orders (book-to-bill 1.2x). With multiple deals nearing completion, a substantial deal pipeline worth over $5 billion is still present.
LTIMindtree share price today
The opening price of LTIMindtree shares on the BSE was ₹6,370 per share today. The company experienced an intraday high of ₹6,374.95 and a low of ₹6,016.05. Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, reports that following the release of the results, the price of LTIMindtree shares saw a notable sell-off, falling more than 5%.
About the Company – LTIMindtree Ltd
LTIMindtree Ltd is a global provider of digital solutions and technology consulting that helps businesses of all sizes use digital technologies to rethink business models, spur innovation, and optimize growth. The segments of the firm are as follows: Consumer Business; Technology, Media & Communications; Manufacturing and Resources; Banking, Financial Services and Insurance; and Healthcare, Life Sciences & Public Services. The segments of banking, financial services, and insurance provide the majority of its revenue.
