LTIMindtree profit falls 1.5 per cent to Rs 1,135 crore

BENGALURU: LTIMindtree on Wednesday posted a 1.5% fall in its consolidated net profit for the June quarter at Rs 1,135 crore as against Rs 1,152 crore in the same period a year-ago. The IT services firm’s revenue from operations in Q1FY24 stood at Rs 9,142 crore, a 5.1% rise as against Rs 8,702 crore in the year-ago period.

The company announced that the Board of Directors have approved setting up a wholly-owned subsidiary in Brazil, with an initial investment of $1 million.