LTIMINDTREE
20.1.2023 14:41:49 CET | Business Wire | Press release
LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the third quarter ended December 31, 2022, as approved by its Board of directors.
“We are pleased to report a strong Q3 FY23, our first as LTIMindtree,” said Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree. “The combined entity has started out with a USD 1 billion quarterly revenue run rate, a top-quartile constant currency year-over-year revenue growth of 16.3%, and a robust order inflow of USD 1.25 billion. Our performance speaks to our steadfast client focus through the merger and our resilient client and solutions portfolio. Clients across sectors are evincing keen interest in our unique value proposition spanning core to experience to edge. The client imperative to dial up technology-led innovation for future-readiness holds significant long-term upside for our full-stack offerings and cross-industry exposure, boosting our endeavour to deliver industry-leading revenue growth in the future as well.”
Key financial highlights:
Quarter ended December 31, 2022
In USD:
- Revenue at $1,046.7 million (growth of 2.4% q-o-q / 14.0% y-o-y)
- Net profit at $121.5 million (decline of 17.7% q-o-q / 13.3% y-o-y)
In INR:
- Revenue at ₹86,200 million (growth of 4.8% q-o-q / 25.3% y-o-y)
- Net profit at ₹10,007 million (decline of 15.8% q-o-q / 4.7% y-o-y)
Other highlights:
Clients:
- 723 active clients as of December 31, 2022
- $1 million+ clients increased by 13, total 374
- $5 million+ clients increased by 7, total 144
- $10 million+ clients increased by 4, total 81
People:
- 86,462 professionals as of December 31, 2022
- Trailing 12 months attrition was 22.3%
Deal Wins
- A leading digital marketplace offering end-to-end solutions for the automotive industry signed a multiyear deal with LTIMindtree as its anchor digital transformation partner to consolidate all digital initiatives for enhancing efficiencies and accelerating time-to-market.
- A leading public utility company based in North America chose LTIMindtree as a long-term strategic partner for an infrastructure and cloud managed services deal.
- An energy and utilities company selected LTIMindtree to enable its digital transformation journey towards green energy.
- A North American energy company signed a managed services deal with LTIMindtree for a data, cloud-enablement, and infrastructure program.
- A leading global provider of transportation solutions selected LTIMindtree to modernize its core operations leveraging a cloud-based business applications platform.
- A North American P&C insurer selected LTIMindtree as a strategic partner for driving the transition from Quality Assurance to Quality Engineering. As part of this deal, LTIMindtree will drive an automation-first mindset to deliver efficiency and productivity improvements.
- A leading hospitality company awarded LTIMindtree a multiyear contract to provide agile-based product development, testing, and support services.
- A Canada-based automobile manufacturer signed a multiyear Application Management Services deal with LTIMindtree.
- A leading semiconductor manufacturer and technology provider selected LTIMindtree for a multiyear contract to provide platform-led, end-user services globally.
Recognitions
- LTIMindtree Syncordis recognised as Temenos Global Delivery Partner.
- Honoured as Global Collaboration Partner of the Year by Amazon Web Services (AWS).
- Recognised as the 2023 ServiceNow Americas Emerging Service Provider Partner of the Year.
- Recognised in the 2022 Gartner®* Market Guide for Augmented Analytics for its Lumin by Fosfor product.
- Named a Leader and Star Performer in Everest Group’s Application and Digital Services in P&C Insurance PEAK Matrix® Assessment 2023.
- Named a Major Contender and Star Performer in Everest Group’s Risk & Compliance in BFS IT Services PEAK Matrix® Assessment 2023.
- Named a Major Contender and Star Performer in Everest Group’s Guidewire Services PEAK Matrix® Assessment 2023.
- Named a Major Contender in Everest Group’s Healthcare Provider Digital Services PEAK Matrix® Assessment 2023.
*GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Announcements
The Board of Directors has recommended an interim dividend of ₹20 per equity share of par value ₹1 each.
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 nearly 90,000 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 www.ltimindtree.com.
Earnings Conference Call and Audio Webcast
Friday, January 20, 2023 - 6:00 PM IST
Please dial any of the below numbers at least 5-10 minutes prior to the conference to ensure that you are connected to your call in-time.
Universal Access Number |
+91 22 6280 1107
|
||
International Toll-Free Number |
USA: UK: Singapore: Hong Kong: |
18667462133 08081011573 8001012045 800964448 |
|
Replay of Conference Call |
Available after 1 hour from the call end time until January 27th, 2023 Playback Code: 23855
Dial-in Number: India +91 22 7194 5757
|
||
USA Toll Free UK Toll Free Singapore Toll Free Hong Kong Toll Free |
18332898317 8007563427 8001012510 800965553 |
||
Audio Webcast The audio from the conference call will be available online through a webcast and can be accessed at the following link: https://links.ccwebcast.com/?EventId=LTI200123 |
|||
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/20230120005205/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
Darktrace Selects Navan to Modernise Travel Program25.2.2026 10:00:00 CET | Press release
Navan (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today announced it has been selected by Darktrace, a global leader in AI for cybersecurity, to upgrade its global travel program. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260225522665/en/ Darktrace Selects Navan to Modernise Travel Program “As Darktrace accelerates its expansion, in-person collaboration is critical,” said David Smith, Chief People Officer at Darktrace. “Navan’s inventory and user experience will ensure our teams and customers can easily connect, while we can maintain financial control.” As the UK-based cybersecurity company grows, Darktrace sought a partner to consolidate its travel operations, minimize administrative burden, and improve the booking experience for its workforce. Previously hampered by fragmented processes, Darktrace required a solution that would increase platform adoption and empower its employees to tra
AI: The New Insider Threat Facing Organizations25.2.2026 09:00:00 CET | Press release
Thales 2026 Data Threat Report Finds 70% of Organizations Rank AI as Top Data Security Risk As AI systems gain broader access to enterprise data across environments, organizations must treat data visibility and encryption as core security elements. AI-enabled deepfakes and misinformation are increasing the effectiveness of identity-based attacks. Today, credential theft is the leading attack technique against cloud infrastructure (67%). Nearly 60% of companies report deepfake-driven incidents, and 48% experience damage from AI-generated misinformation Investment in AI security is growing, with 30% of companies allocating dedicated budgets; however, 53% are still relying on existing security budget According to the Thales 2026 Data Threat Report, organizations across various markets including automotive, energy, finance and retail say the rapid pace of AI-driven transformation is now their biggest security challenge. Based on the report’s research, conducted by S&P Global 451 Research,
Zuper and Vonage Reimagine Network Connectivity for Skilled Trades with Quality on Demand25.2.2026 09:00:00 CET | Press release
Zuper to receive early access to Vonage Quality on Demand network API, for high-stakes field workflows - ensuring reliable network performance for live video, wearables, and inspections across industries like HVAC, electrical, general construction, roofing, manufacturing, and more Zuper, the AI operating system for the trades, and Vonage, part of Ericsson, have entered into a Memorandum of Understanding (MoU) to enter into a collaboration to integrate Vonage’s network APIs into the Zuper platform. The collaboration will provide Zuper with early access to Vonage network powered solutions, starting with Quality on Demand (QoD), where mobile network performance can be selectively applied to support critical field workflows, delivering improved latency, reliability, and connected experiences for mobile workforces. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260225852261/en/ QoD is the first advanced network API being integrat
Industrial Decarbonization: Calderion, WenCo and Terravent Invest in Graforce to Scale Plasma Pyrolysis Globally25.2.2026 08:07:00 CET | Press release
The investor consortium comprising the Paris-based Next Generation Fuels Industrial & Technological fund Calderion (Audacia), alongside infrastructure developer Terravent and WenCo Family Office, announces the closing of a strategic double-digit million-euro financing round for Berlin-based Graforce GmbH. The investment is dedicated to the industrial scale-up of Graforce’s proprietary plasma pyrolysis technology, addressing the growing global demand for cost-efficient low-carbon hydrogen, syngas, and carbon removal solutions that are compatible with existing industrial infrastructures. Disruptive alternative to conventional processes Graforce’s technology aims at replacing CO₂-intensive legacy routes such as steam reforming and classical gasification. By applying plasma to methane, biogas, flare gas, and landfill gas, the process converts these streams into their valuable molecular components instead of emitting them. The result is a high-efficiency production of clean hydrogen and syn
Mevion Medical Systems Announces CE Marking of the MEVION S250-FIT™ Proton Therapy System, Expanding Global Access to Compact Proton Therapy25.2.2026 08:00:00 CET | Press release
CE Marking enables marketing and clinical use of the world’s first and only LINAC vault-ready proton therapy system across the European Union Mevion Medical Systems, the global leader in compact proton therapy, today announced that the MEVION S250-FIT Proton Therapy System has successfully completed the conformity assessment process and has received CE Marking under Regulation (EU) 2017/745 (EU MDR). This regulatory milestone enables the marketing, sale, and clinical use of the MEVION S250-FIT system throughout the European Union, building on the system’s existing U.S. FDA 510(k) clearance granted in September 2025. The MEVION S250-FIT is the first and only proton therapy system designed to fit into a standard radiation therapy vault. By enabling cancer centers to use their existing infrastructure, the MEVION S250-FIT dramatically reduces the cost, complexity, and timeline traditionally associated with proton therapy adoption. This opens a new pathway for hospitals and cancer centers 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