SSPL WEALTH PVT LTD

Hot Pursuit

Scrips, which has significant changes during the market hours.

LTIMindtree Q2 PAT rises 10% QoQ to Rs 1,252 cr; declares dividend of Rs 20/- share

17-Oct-24 17:12 Hrs IST

Revenue from operations increased 2.8% QoQ to Rs 1,126.6 crore during the quarter.

On year on year (YoY) basis, the company's net profit and revenue jumped 7.7% and 4.7% respectively in Q2 FY25.

EBIT stood at Rs 1,458.2 crore in Q2 FY25, up 2.5% YoY and 6.4% QoQ. EBIT margin fell to 15.5% in Q2 FY25 as compared with 16% in Q2 FY24.

In dollar terms, the IT firm's revenue stood at $ 1,126.6 million in Q2 FY25 up 2.8% QoQ and 4.7% YoY. Net profit was at $ 149.5 million, up 9.8% QoQ and up 6.5% YoY. In constant currency terms, revenue grew 2.3% QoQ and 4.4% YoY.

The company said that it added 22 new clients during the quarter ended 30 September 2024. Total client base currently stood at 742 active clients in Q2 FY25.

Total headcount in Q2 FY25 was 84,438. The firm's TTM attrition rate stood at 14.5% in Q2 FY25.

Debashis Chatterjee, chief executive officer and managing director, said, 'Q2 was a good quarter marked by broad-based sequential growth experienced across all our verticals and geos, helping us register a dollar growth of 2.8%. We had several multi-year deal closures, including a USD 200 million+ deal. Continued deal momentum in key verticals and significant Q2 hiring, including freshers, positions us well as we enter into the latter half of the fiscal year.

As GenAI becomes pivotal in customer interactions, there is a noticeable trend of modernization efforts focusing on transforming the data estate. Our robust Data practice, combined with our innovative LTIMindtree AI platform, establishes us as a significant disruptor.'

Meanwhile, the company's board declared an interim dividend of Rs 20 per share of Re 1 each for FY25. The record date for the same is fixed at 25 October 2024.

Further, the board has also approved closure of LTIMindtree Spain S.L. and LTIMindtree LLC, wholly-owned subsidiaries of the company.

LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. LTIMindtree a Larsen & Toubro Group company combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale.

The counter rose 0.70% to end at Rs 6,403.20 on the BSE.