LTIMINDTREE
17.7.2024 16:41:34 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 first quarter ended June 30, 2024, as approved by its Board of Directors.
“While the environment remains unchanged, fiscal 25 started on a positive note for us with Q1FY25 revenue of USD 1.1 billion, registering a 2.5% QoQ and 3.5% YoY revenue growth in USD terms. Our Q1FY25 EBIT expanded to 15% and order inflow remained stable at USD 1.4 billion. Our top 3 industry verticals and our largest geography have performed well sequentially. This is attributed to a measured uptick in IT spending for critical initiatives with clients balancing innovation and fiscal prudence.”
-Debashis Chatterjee, Chief Executive Officer and Managing Director
Key financial highlights:
Quarter ended June 30, 2024
- In USD:
- Revenue at $1,096.2 million (+2.5% Q-o-Q / +3.5% Y-o-Y)
- Net profit at $136.1 million (+2.8% Q-o-Q / -2.9% Y-o-Y)
- In INR:
- Revenue at Rs 91,426 million (+2.8% Q-o-Q / +5.1% Y-o-Y)
- Net profit at Rs 11,351 million (+3.1% Q-o-Q / -1.5% Y-o-Y)
Other highlights:
- Clients:
- 748 active clients as of June 30, 2024
- $1 million+ clients increased by 2 on a Y-o-Y basis, total 390
- $20 million+ clients increased by 3 on a Y-o-Y basis, total 43
- People:
- 81,934 professionals as of June 30, 2024
- Trailing 12 months attrition was 14.4%
Deal Wins
- A major US airline chose LTIMindtree to provide Platform Engineering & Operations Services, leveraging its global delivery footprint in the US, UK, Poland and Australia.
- A US-based insurance and retirement corporate has chosen LTIMindtree as their partner for development and support in the Life & New Business area. This includes accountability for managing 100+ apps in the new business portfolio.
- A US-headquartered company that provides data center solutions to hyperscalers, cloud and enterprise customers has awarded LTIMindtree a multi-year deal to provide PoD-based managed services in the areas of application development, data engineering, infrastructure support, testing, and ITSM.
- A US-headquartered digital marketing company has expanded their relationship with LTIMindtree through a strategic outsourcing deal to accelerate their digital and cost transformation journey in the areas of quality assurance, data analytics and BI, data science, field analytics, and project management.
- A leading global designer and manufacturer of electric domestic appliances has chosen LTIMindtree as their anchor partner to deliver Quality Assurance Services.
- A leading Japanese automotive company awarded LTIMindtree a multi-year service desk support contract.
- A US-based non-profit organization has entrusted LTIMindtree with an Infrastructure & Cybersecurity Managed Services contract. This involves migration of Data Center to Cloud along with implementation and management of security and infra tools.
Partnerships
- LTIM has renewed its Strategic Collaboration Agreement with AWS. This partnership will see both entities work closely to enhance industry alignment across sales, solutions, and delivery. We will collaborate on developing joint solutions targeting key areas such as Generative AI, SAP, data management & migration, and modernization processes.
- LTIM won the AWS Champions Club UK & Ireland 2024 for the most innovative deal category. The award was bestowed at the AWS UKI Partner Summit. LTIM was nominated for 2 GenAI opportunities using technologies like Amazon Sagemaker and Amazon Bedrock.
- LTIM has been recognized as the 2024 Google Cloud Partner of the Year for the Manufacturing Industry Segment, highlighting its success in implementing Google Cloud technologies with specialized domain knowledge and automation.
- LTIM was awarded the Standard of Excellence award along with Star Insurance Group at Duck Creek’s annual event Formation 2024, for simplifying the process of complex Insurance and delivering business effectiveness. LTIMindtree continues to help carriers transform and adopt new, digital AI enabled solutions with the skill, experience & security needed to achieve success.
Recognitions
- LTIMindtree recognized as a ‘Leader’ in Avasant: Avasant’s Multisourcing Service Integration 2023-2024.
- LTIMindtree recognized as a ‘Leader’ and Star performer in Everest Group: Duck Creek Services PEAK Matrix Assessment 2024.
- LTIMindtree recognized as a ‘Leader’ in Everest Group: Capital Markets IT Services PEAK Matrix Assessment 2024.
- LTIMindtree recognized as a Major Contender and Star Performer in Everest Group: Sustainability Enablement Technology Services PEAK Matrix 2024.
- LTIMindtree recognized as a Major Contender in Everest Group: Mainframe Services PEAK Matrix 2024.
- LTIMindtree recognized as a Major Contender in Everest Group: Enterprise Immersive Experience Services PEAK Matrix® Assessment 2024.
- LTIMindtree recognized as a Major Contender in Everest Group: Adobe Services PEAK Matrix Assessment 2024.
- LTIMindtree recognized as a Major Contender in Everest Group: Everest Healthcare Industry Cloud Services 2024.
- LTIMindtree recognized as a Major Contender in Everest Group: Guidewire Insurance PEAK Matrix Assessment 2024.
- LTIMindtree recognized as a Disruptor in HFS Horizons: HCP Service Providers, 2024.
- LTIMindtree recognized as an Enterprise Innovator in HFS Horizons: Industry Cloud Service Providers, 2024.
- LTIMindtree recognized in 'The Forrester Wave: Continuous Automation and Testing Services, Q2 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 — solves the most complex business challenges and delivers transformation at scale. For more information, please visit https://www.ltimindtree.com/.
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/20240717786073/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
New Visa Research Finds Consumer Trust is Accelerating the Path to Agentic Commerce9.9.2026 13:00:00 CEST | Press release
Consumers rank Visa as the most trusted brand to deliver AI-powered commerce. Visa (NYSE: V) today announced the Visa Trust Index for agentic commerce, providing new insight into how consumers are navigating the next evolution of AI shopping and payments. While consumers are increasingly using AI across the shopping journey, only 23% of U.S. consumers trust GenAI to handle payment transactions on their behalf. However, confidence in agentic commerce shifts when payments brands come into consideration. Visa emerged as the most trusted brand for AI-powered payments with 61% of respondents saying they would trust Visa to handle agentic transactions. The findings suggest that while consumers are intrigued by agentic commerce, trust remains the key factor determining whether adoption moves from possibility to reality. "AI has the potential to fundamentally reshape how people discover, buy and pay for goods and services, much like e-commerce and mobile commerce did before it," said Oliver Je
NIQ’s Optiq™ Goes Live in Discover, Expanding Access to Trusted Consumer Intelligence9.9.2026 12:45:00 CEST | Press release
Global beta rollout of NIQ’s Optiq Chat later this month will give more clients conversational access to explainable answers grounded in NIQ data and expertise NielsenIQ (NIQ), a leading consumer intelligence company, today announced that Optiq is now live within Discover, NIQ’s platform for accessing, analyzing and applying consumer and market intelligence, advancing the company’s strategy to make trusted consumer intelligence easier to access and apply. Where Ask Arthur introduced new ways to explore and analyze NIQ data through AI within Discover, Optiq expands that experience across conversational AI, mobile access and enterprise AI integrations, giving clients greater flexibility to access and apply NIQ intelligence across the applications and workflows where they make decisions. “AI models are becoming ubiquitous. Trusted intelligence is not,” said Irina Stoian, Chief AI Commercial Officer at NIQ. “That is why we are building the full system. Think of it like a body: harmonized N
Cegid and Silae Join Forces to Create a European Leader in AI-Driven Business Technology9.9.2026 12:32:00 CEST | Press release
Planned Merger Enables Trusted, Fully Integrated Experience Across E-Invoicing, Accounting, Tax, Payroll and HR, Digital Financial Services and Payments for Businesses and their PartnersChristian Pedersen Joins Cegid as CEO to Lead Combined Group Cegid, an AI-driven European leader in cloud business management software for small and medium-sized businesses (SMBs), and accounting professionals, and Silae, France’s leading payroll and human resources platform, today announced their intention to merge. The combination will create a national technology champion and the leading European technology platform for businesses and their partners, helping them grow safely and efficiently with the support of a fully integrated and compliant suite covering their end-to-end financial and administrative needs. Between them, Cegid, following its recent acquisition of Shine, and Silae power the day-to-day accounting, tax, finance and payroll of 2 million end-customers and more than 15,000 chartered acco
Compass Pathways’ New 52-Week Topline Open-Label Data from Phase 3 COMP005 Trial Demonstrates Additional Benefit from Another COMP360 Dose in Part C Extending Durability Out to 1 Year9.9.2026 12:30:00 CEST | Press release
Notable additional benefit observed with an added reduction in MADRS1 score leading to an average 13-point reduction from baseline at Week 52 with durability extended out to 1 year for participants who were randomized to the 25 mg arm and received an additional doseFor participants randomized to Placebo arm who received first dose of COMP360 25 mg in open-label Part C, data further reinforces that a single 25 mg dose can produce rapid onset, meaningful effect and durabilityFor all participants in Part C who received a 25 mg open-label dose, strong response and remission rates were observed with 40%-45% responders2 and approximately 30% remitters3 across all timepoints 6 weeks post the Part C doseThis 1-year data further supports the belief that, if approved, COMP360 could establish a new standard of care in TRD that can be life-changing for patients − moving beyond daily or frequent administration toward an option that could provide durable benefit with just a few treatments a yearCOMP
New ABB and BCG Report Highlights Growing Role of Direct Current Technologies in Future Power Systems9.9.2026 11:42:00 CEST | Press release
Rapid expansion of AI computing, increasing electrification and rise of renewable energy are driving renewed interest in DC technology as part of future electrical systems Both AC and DC systems have strategically important roles in meeting future electricity demand Establishing common standards and developing DC-specific skills can help accelerate deployment ABB today published a new report, The Strategic Case for Hybrid AC/DC Power: Shaping the Transition to the Next Electrical Architecture, developed in collaboration with Boston Consulting Group (BCG). The report makes the case that direct current (DC) technology is moving from the periphery to the center of industrial, commercial, and digital infrastructure – and that the decisions made by business leaders and policymakers in the next two to three years will determine who shapes that transition and who inherits it. The future of power distribution is not an either-or choice between alternating current (AC) and direct current, but a
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