LTIMindtree Q3 profit falls 11% YoY due to labour code impact

BENGALURU: IT services company LTIMindtree on Monday reported an 11% year-on-year decline in consolidated net profit for the December quarter due to one-time charges related to the implementation of the new labour codes.

The profit fell to Rs 971 crore against Rs 1,085 crore in the year-ago period. The fall was even steeper sequentially by 30%. In Q2, the net profit was at Rs 1,401.