LTIMindtree suffers 12% fall in Q3 net profit, at Rs 959 crore

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LTI Mindtree, India’s sixth-largest software services company, reported an 11.7% decline in net profit on-year to Rs 959 crore for September-December period, weighed down by one-time expenses of Rs 590 crore related to labour code implementation.

Sequentially, too, profit was down 30.5%, although the bottomline climbed, excluding the one-off items.

In December, revenue at Rs 10,781 crore grew 11.6% from a year earlier, and 3.7% from the second quarter, driven by improving deal momentum, AI-led demand and cost discipline. The company is aiming to…



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LTIMindtree suffers 12% fall in Q3 net profit, at Rs 959 crore



LTI Mindtree, India’s sixth-largest software services company, reported an 11.7% decline in net profit on-year to Rs 959 crore for September-December period, weighed down by one-time expenses of Rs 590 crore related to labour code implementation.

Sequentially, too, profit was down 30.5%, although the bottomline climbed, excluding the one-off items.

In December, revenue at Rs 10,781 crore grew 11.6% from a year earlier, and 3.7% from the second quarter, driven by improving deal momentum, AI-led demand and cost discipline. The company is aiming to…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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