LTIMINDTREE
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
TNG Digital and EPOS Launch EPOS360 and EPOS360 BlueTap in Malaysia to Help Local SMEs Grow with AI and Unique Payment Capabilities15.1.2026 11:23:00 CET | Press release
EPOS360, an industry-first all-in-one digital and payments solution, launches as a mini-programme within TNG eWallet, enabling Malaysian SMEs to easily access AI-powered growth tools to engage over 25 million TNG eWallet usersTNG Digital introduces EPOS360 BlueTap, Malaysia’s first tap-to-pay experience using TNG eWalletThrough EPOS, Ant International will make significant strides to empower SME digitalisation, leading the charge for its SME inclusion and growth strategy TNG Digital Sdn. Bhd. (“TNG Digital”), the operator of Malaysia’s leading digital financial services and lifestyle app, TNG eWallet, and EPOS, the all-in-one SME transformation platform of Ant International, have jointly announced the launch of EPOS360 in Malaysia, with a suite of AI-powered growth tools and unique payment capabilities to support the digitalisation of Malaysian businesses, particularly SMEs. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260
UK CfD AR7 Results Signal New Realities for Offshore Wind Economics Ahead of AR8 — Aegir Insights15.1.2026 10:38:00 CET | Press release
The UK government yesterday published the results of the highly anticipated Contracts for Difference (CfD) Allocation Round 7 (AR7), highlighting both sustained appetite for UK offshore wind and the growing complexity of delivering competitive, bankable bids. The allocation round awarded a record 8.4 GW of offshore wind capacity across eight projects after the government increased the budget during the process. Almost all capacity (8.2 GW) was allocated to fixed-bottom offshore wind, enabling six large-scale projects to move forward and strengthening the UK’s deployment pipeline towards 2030. However, the outcome also revealed a large degree of project concentration, with partial or full ownership of five of the six awarded fixed-bottom projects held by a single developer. In a sector still recovering from cost and delivery risk, AR7 represents a positive outcome and signals an industry beginning to recalibrate under the right support framework. “The AR7 results provide important signa
OPEX® Corporation Presented with Multiple DM Awards by Document Manager Magazine15.1.2026 10:00:00 CET | Press release
OPEX® Corporation, a global leader in Next Generation Automation providing innovative solutions for warehouse, document and mail automation, has been recognized by Document Manager magazine with multiple DM Awards. At the 2025 awards ceremony held recently in London, OPEX was named the winner in two categories―Imaging Product of the Year: High Volume and Hardware Product of the Year―for its Falcon+® document imaging solution. OPEX also received runners-up accolades, in partnership with Iron Mountain, in the category of Project of the Year: Public Sector, for their NHS Medical Scanning project. “OPEX is honored to receive such prestigious recognition from Document Manager magazine,” said Alban Collas, Director of EMEA Operations, OPEX. “Our team is committed to developing solutions that enable clients to transform how business is conducted. For our imaging solutions to be recognized in this way means so much to us. We’re especially pleased that the DM Awards honored our partnership with
NTT DATA Recognized as a Global Top Employer for Third Consecutive Year15.1.2026 09:00:00 CET | Press release
NTT DATA, a global leader in AI, digital business and technology services, today announces it has been certified as a Global Top Employer for 2026 by the Top Employers Institute. Recognized for the third year in a row, this prestigious honor places NTT DATA among a select group of just 17 organizations worldwide honored for consistently delivering a high-performing people strategy across its global operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260115418660/en/ NTT DATA recognized as a Global Top Employer In addition to its global recognition, NTT DATA has also earned four Top Employer 2026 regional seals and 37 country and region seals across North America, Latin America, Asia Pacific, Europe and Africa. The Global Certification is the highest level of recognition offered by the Top Employers Institute and underscores NTT DATA’s ability to align its leadership, leverage data-driven insights and apply validated b
SAP and Syngenta Announce Partnership to Scale AI-Assisted Agriculture15.1.2026 09:00:00 CET | Press release
SAP SE (NYSE: SAP) and Syngenta, a global leader in agricultural innovation, today announced a multi-year strategic technology partnership to accelerate AI-assisted innovation across Syngenta’s global operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260115682130/en/ Jeff Rowe - CEO of Syngenta Group (left) and Christian Klein - CEO of SAP (right) The partnership will embed artificial intelligence at the core of Syngenta’s enterprise, modernizing operations and enabling accelerated innovation through advanced data analytics across the business — from manufacturing and supply chain to grower-facing products and services. Agriculture continues to navigate challenges driven by climate variability, supply chain complexity, and global uncertainty. By deploying AI-assisted tools enterprise-wide, this partnership positions Syngenta to meet the challenge of feeding a projected 10 billion people by 2050, while unlocking fast
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