LTIMindtree clocks 4.7% revenue growth in Q2, hires 2,504

Technology consulting and digital solutions company LTIMindtree on Thursday reported $1.12 billion in revenue in the quarter ended September 30, a 4.7 per cent growth (year-on-year).

The company clocked net profit of $149.5 million, a 6.5 per cent YoY growth, and added 2,504 employees.

“Q2 was a good quarter marked by broad-based sequential growth experienced across all our verticals and geographies, helping us register a dollar growth of 2.8 per cent,” said Debashis Chatterjee, CEO and Managing Director.

The stock of the company closed at Rs 6,408 apiece, up marginally at 0.77 per cent.

The company saw several multi-year deal closures, including an over $200 million deal in the quarter.

“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,” Chatterjee noted.

The company said it now has 84,438 employees, with the latest addition of 2,504 workers.

The board of directors have also approved an interim dividend of Rs 20 per equity share of par value Rs 1 each.

In the quarter, LTIMindtree and Microsoft entered into a pact to enhance digital transformation for joint customers utilising Microsoft Azure. The company also partnered Google to accelerate global business growth and drive cloud transformation for customers.

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

In the April-June quarter, LTIMindtree reported consolidated net profit at Rs 1,135 crore, a 1.5 per cent decrease from Rs 1,152 crore in the year-ago period. The net profit, however, rose 3 per cent on a sequential basis.