LTIMINDTREE
24.4.2024 17:02:33 CEST | Business Wire | Press release
LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the fourth quarter and full year ended March 31, 2024, as approved by its Board of Directors.
“We closed FY24 amidst a tough macro environment and delivered a resilient performance with full-year revenue growth of 4.4% in USD terms and an EBIT margin of 15.7%. Our order inflow for the full year at USD 5.6 billion registered a 15.7% growth over FY23. This growth reflects the positive outcomes of our positioning as an organization with scale, expanded capabilities, and larger partnerships. As the market dynamics evolve, we are excited to be part of innovations, partnerships, and initiatives that our clients will embark on in FY 25.”
-Debashis Chatterjee, Chief Executive Officer and Managing Director
Key financial highlights:
Quarter ended March 31, 2024
In USD:
- Revenue at $1,069.4 million (-1.3% Q-o-Q / +1.1% Y-o-Y)
- Net profit at $132.4 million (-5.8% Q-o-Q / -2.4% Y-o-Y)
In INR:
- Revenue at ₹88,929 million (-1.4% Q-o-Q / +2.3% Y-o-Y)
- Net profit at ₹11,007 million (-5.9% Q-o-Q / -1.2% Y-o-Y)
Year ended March 31, 2024
In USD:
- Revenue at $4,287.3 million (growth of 4.4% Y-o-Y)
- Net profit at $553.4 million (growth of 1.4% Y-o-Y)
In INR:
- Revenue at ₹3,55,170 million (growth of 7.0% Y-o-Y)
- Net profit at ₹45,846 million (growth of 4.0% Y-o-Y)
Other highlights:
Clients:
- 738 active clients as of March 31, 2024
- $5 million+ clients increased by 7 on a Y-o-Y basis, total 153
- $10 million+ clients increased by 10 on a Y-o-Y basis, total 91
- $20 million+ clients increased by 2 on a Y-o-Y basis, total 40
People:
- 81,650 professionals as of March 31, 2024
- Trailing 12 months attrition was 14.4%
Deal Wins
- As part of a multi-year engagement, a leading financial services firm specializing in loans and mortgages has selected LTIMindtree as their primary engineering partner to meet their regulatory timelines and enable seamless operations of their application landscape through a ‘Remediation-as-a-Service’ and ‘Operations-as-a-Service’ engagement.
- A multinational financial services corporation has awarded LTIMindtree a multi-year contract as an exclusive assurance partner for their transformation journey by implementing a centralized Quality Engineering organization.
- A global leader in insurance brokerage services and risk management solutions has chosen LTIMindtree as their primary partner to establish a new technology platform as they create a new operating model in their digital transformation journey.
- A leading energy company in the Middle East has awarded LTIMindtree an end-to-end infrastructure-managed services contract for five years.
- A leading producer of frozen products in Sweden has awarded LTIMindtree with a full-scope infrastructure contract for Cloud Transformation. This is a new logo for LTIMindtree.
Partnerships
LTIM has achieved Amazon Connect service delivery designation, allowing businesses to provide improved customer service at a lower cost through the cloud-based contact center service.
LTIM joined the IBM Quantum Network, to explore quantum computing innovation for the benefit of its global clientele across multiple industries. This solidifies LTIM’s position in the global quantum ecosystem being the first Indian GSI to join the IBM Quantum Network.
LTIM has been awarded the Fivetran Global and EMEA Innovation Partner of the Year 2024, showcasing our dedication to innovation and customer-centricity.
LTIM was awarded "Global Breakthrough Partner of the Year" by Tricentis. This award highlights our strong partnership and dedication to delivering innovative solutions to clients using Tricentis technology.
Received Temenos Learning Community Award accrediting LTIM’s commitment towards constant upskilling in Banking Digital transformation.
Recognitions
- LTIMindtree recognized as a Major Contender in Everest Group’s CPG IT Services PEAK Matrix® Assessment 2024.
- LTIMindtree recognized as a Major Contender in Everest Group’s Retail IT Services PEAK Matrix® Assessment 2024.
- LTIMindtree featured in Forrester's ‘The state of Digital Workplace Services, 2024’.
- LTIMindtree recognized as a Major Contender in Everest Group’s Application Transformation Services PEAK Matrix Assessment 2024-North America.
- LTIMindtree featured in Forrester's ‘The Adobe Services Landscape Q1 2024’.
Announcements
The Board of Directors have recommended a final dividend of ₹45 per equity share of par value ₹1 each for the financial year ended March 31, 2024.
About LTIMindtree
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. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 81,000+ talented and entrepreneurial professionals across more than 30 countries, 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. For more information, please visit https://www.ltimindtree.com/.
Earnings Conference Call
Universal Dial-in |
+91 22 6280 1157 +91 22 7115 8058 |
International Toll Free |
USA : 18667462133 UK : 08081011573 Singapore : 8001012045 Hong Kong : 800964448 |
Replay of Conference Call |
Available after 1 hour from the call end time until April 25th, 2024 Playback Code: 80201 Dial-in Number: India +91 22 71945757 |
Audio Webcast The audio from the conference call will be available online through a webcast and can be accessed at the following link: Click here for Audio Webcast |
|
Click here for your DiamondPass™ DiamondPass™ is a Premium Service that enables you to connect to your conference call without having to wait for an operator. If you have a DiamondPass™, click the above link to associate your pin and receive the access details for this conference. If you do not have a DiamondPass™, please register through the link and you will receive your DiamondPass™ for this conference. |
|
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240424576822/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Dominican Republic Drives Modernization of Electronic Passports Under the Leadership of the Thales - MIDAS Consortium25.3.2026 23:22:00 CET | Press release
The General Directorate of Passports, together with the Presidency of the Dominican Republic, are leading the transformation of the country’s passport issuance system with a new, secure, efficient document aligned with international standards.In 2025, the Thales-MIDAS consortium was awarded the contract to develop, issue, and personalize a modern, secure, and highly reliable travel document for Dominican citizens, incorporating additional cybersecurity measures. The Presidency of the Dominican Republic, through the General Directorate of Passports, issued the country’s first electronic passport as part of its strategy to modernize and strengthen national security. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260324368065/en/ Passport of the Dominican Republic The new document was developed in partnership with Thales, world leader in advanced technologies for the Defense, Aerospace, Cybersecurity, and Digital sectors, and M
3D Systems Achieves Full-Scope EU MDR Certification, Accelerating European Launch of NextDent® Jetted Denture Solution Targeted for Summer 202625.3.2026 17:20:00 CET | Press release
Certification Marks Major Milestone in Strategic Dental Growth Initiative Addressing Straightening, Protection, Repair and Replacement of Teeth 3D Systems (NYSE: DDD) today announced it has received full-scope certification under the European Union Medical Device Regulation (EU MDR) 2017/745. The certification was attained on Monday, March 16, 2026. This milestone confirms that the Company’s quality system, technical documentation, and clinical evidence meet the most rigorous regulatory requirements in the medical device sector. With the MDR certificate in hand, 3D Systems will now introduce MDR-compliant product versions through a carefully coordinated, phased rollout across its dental product families and European markets. This approach ensures a smooth transition while maintaining uninterrupted product availability for customers and healthcare providers. The EU MDR certification immediately enables the introduction of innovative new materials and is a pivotal step for one of 3D Syst
Visa to Bring Privacy-Preserving Payments to Canton Network25.3.2026 17:00:00 CET | Press release
Visa is the first payments company selected to become a Super Validator on the Canton Network, where it will help banks and financial institutions bring new payment flows onchain Visa (NYSE:V), a global leader in digital payments, today announced it will join the Canton Network as the first major global payments company to serve as a Super Validator, to help extend privacy‑preserving blockchain infrastructure to banks and financial institutions around the world. Visa will be one of 40 Super Validators on Canton. That move goes straight to a core challenge for financial institutions: the same transparency that gives blockchains their appeal can clash with privacy expectations financial institutions operate under. Canton Network, a blockchain built for regulated finance, has privacy built in from the beginning, so organizations can use shared infrastructure without exposing sensitive information. As a Super Validator, Visa will help clients who choose to run and secure operations on the
ECU Worldwide Unveils XLERATE 2.0 Expansion to Bypass Asia–Europe Supply Chain Disruptions25.3.2026 14:30:00 CET | Press release
Strategic LAX gateway enables faster, predictable cargo movement through a reimagined sea–air logistics model ECU Worldwide, Allcargo Globals’ wholly-owned global subsidiary, has announced a strategic expansion of its transformative logistics solution, XLERATE 2.0, to provide a high-speed and resilient alternative to Asia-to-Europe trade lanes facing transit disruptions. Under this alternative routing, cargo is transported across the Pacific to the US West Coast, using Los Angeles (LAX) as a temporary hub. The solution leverages XLERATE 2.0’s premium, time-definite ocean services, ensuring greater transit agility and continuity. XLERATE 2.0 offers two distinct shipping solutions from China and Vietnam, providing shippers with flexibility as traditional trade arteries remain impacted by shifts in global logistics. These changes have led to reduced overall capacity and the disruption of standard sea–air services via conventional transit points. Commenting on the rollout, Simon Bajada, Re
Incyte Announces Executive Leadership Appointments25.3.2026 14:00:00 CET | Press release
Incyte (NASDAQ:INCY) today announced appointments among its executive leadership team to support the Company’s strategic focus and long-term growth plans. Pablo J. Cagnoni, M.D., has been appointed President, Incyte and Global Head of Research and Development. In this role, Dr. Cagnoni will retain responsibility for Research and Development, while also supporting enterprise-wide strategic planning and operational execution. Under Dr. Cagnoni’s scientific leadership, Incyte’s R&D progress has been notable, including advancing our mutCALR antibody, povorcitinib, CDK2, KRASG12D and TGFßR2xPD1 programs. Dr. Cagnoni has also continued to strengthen the way Incyte conducts R&D, introducing a new structure, processes and new technologies to improve productivity and keep Incyte competitive. Steven Stein, M.D., has been appointed Executive Vice President, Chief Medical Officer and Head of Late-stage Development. In this role, Dr. Stein will continue to oversee Incyte’s extensive and growing lat
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom
