LTIMINDTREE
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
Green Street Expands Private Market Coverage with European Self-Storage Data and Analytics13.5.2025 10:00:00 CEST | Press release
Firm releases comprehensive macro insights into the European self-storage sector, via its latest Outlook report Green Street, the foremost provider of commercial real estate intelligence and insights, has expanded its private market research coverage to the European self-storage sector. Utilising 5 years of forecasted insights and 10 years of historical data, Green Street’s new Self-Storage Outlook focuses on investment opportunities available in 30 European cities. “Living quarters are becoming more compact and storage space is being cut back in urban developments, necessitating off-premises storage solutions for residential occupiers. Additionally, approximately 40% of the business customer base consists of small-to-medium-sized entities, particularly online retailers in the region,” said Marie Dormeuil, Head of European Market Analytics. “The growth in real spending on storable goods is expected to increase at 2% per annum over the next five years, supporting healthy demand growth.”
Oracle and Infobip Enhance Partnership to Deliver Global Conversational Experiences13.5.2025 10:00:00 CEST | Press release
Global cloud communications platform Infobip today announced that it has enhanced its partnership with Oracle to bring conversational experiences to businesses and brands globally. The new integration enables Infobip and Oracle customers and partners to access Infobip's omnichannel services through Oracle Integration. Customers increasingly expect omnichannel communications, but integrating and managing new channels can be time-consuming, requiring complex development, deployment, and organizational processes. Infobip’s new Omnichannel Messaging Adapter for Oracle Integration addresses this challenge byenabling all types of businesses to work with and manage omnichannel messaging channels involving Oracle and third-party solutions, including WhatsApp and RCS. The solution deploys quickly, reducing time to market. In addition, Infobip has provided a prebuilt use case – or Accelerator – for Oracle’s contact center solution, Oracle B2C Service. This Accelerator is a flexible solution that
Galeria Teams Up With Blue Yonder to Enhance the In-Store and Online Customer Shopping Experience13.5.2025 10:00:00 CEST | Press release
Germany's iconic department store chain deploys Blue Yonder’s AI-driven demand and replenishment capabilities to strengthen its commitment to quality and convenience In today's rapidly evolving retail landscape, consumers increasingly seek personalized shopping experiences tailored to meet their specific demand requirements. For omni-channel retailers, success depends on seamlessly delivering high-quality products and excellent customer service powered by advanced technology that effectively supports a demand-driven, omni-channel strategy. That is why Galeria, Germany´s leading department store chain, has chosen to deploy Blue Yonder’s demand and replenishment capabilities to strengthen its supply chain and enhance operational efficiency. This strategic investment enables the retailer to deliver a highly responsive and seamless shopping experience across both in-store and online channels, reinforcing Galeria's commitment to quality and convenience. Galeria previously relied mainly on m
SecurityBridge Teams up With Microsoft to Enhance SAP Security With Microsoft Sentinel13.5.2025 09:17:00 CEST | Press release
SecurityBridge, the Cybersecurity Command Center for SAP, is pleased to announce its collaboration with Microsoft to integrate SAP data into Microsoft Sentinel. The integration enables SecurityBridge to seamlessly share SAP security events with Microsoft Sentinel’s cloud-native security information and event management (SIEM)—enhancing the visibility to detect and respond to threats across SAP landscapes when it matters. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250513088279/en/ SecurityBridge x Microsoft Sentinel in action. "This close collaboration represents a significant advancement in SAP security. Combining our SAP-native cybersecurity platform with Microsoft Sentinel’s capabilities makes complex SAP security events accessible and actionable for all security teams, ultimately supplying customers with the knowledge to better secure SAP systems from threats," said Ivan Mans, CTO & Co-Founder, SecurityBridge. SAP sys
Saildrone Closes $60M Financing to Bring Maritime Autonomy to Europe13.5.2025 09:05:00 CEST | Press release
The new funding round, led by EIFO (Export and Investment Fund of Denmark), enables access to Saildrone’s unique maritime intelligence technology for critical European security and defense needs Saildrone, the global leader in maritime autonomy, today announced the closing of a $60 million investment round led by EIFO, the Export and Investment Fund of Denmark. The investment will be used to bring Saildrone technology to Europe to address the urgent need for maritime security for critical infrastructure and wider defense applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250513296505/en/ Four Saildrone Voyager uncrewed surface vehicles (USVs) will be deployed in Danish waters during the summer of 2025 in partnership with the Danish Armed Forces. The operational testing will begin in June and is part of a broader effort to integrate uncrewed systems into Denmark’s defense architecture. The Baltic, North Sea, and Eur
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