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
Convatec Survey Challenges Assumptions About Leakage in Ostomy Care6.10.2026 09:00:00 CEST | Press release
New global findings highlight the role of peristomal skin health in improving outcomes and confidence for people living with an ostomy Convatec, a leading medical products and technologies company focused on solutions for the management of chronic conditions, today released Rethinking leakage in ostomy care, new international research highlighting a significant gap in how peristomal skin health is understood and managed in ostomy care. The findings indicate that skin health plays a critical role in preventing leakage, and supporting confidence in daily life, yet remains widely under-recognised in routine care. For many people, leakage is not only a clinical or product issue; it can shape whether they feel able to travel, exercise, socialise or take part fully in everyday life. More than half of respondents said they avoid such activities due to worry about their ostomy. The results of the survey, which included more than 1,800 people living with an ostomy and over 400 healthcare profes
Oulu2026 Boosts Tourism as Björk, Art and Technology Lead the European Capital of Culture Year’s Finale6.10.2026 09:00:00 CEST | Press release
The Oulu2026 European Capital of Culture programme has attracted visitors to northern Finland and contributed to strong tourism growth. According to Visit Oulu statistics, Oulu recorded nearly 475,000 registered overnight stays between January and August 2026, an increase of 12 per cent year on year. International overnight stays rose by 21 per cent to more than 96,600, while domestic overnight stays increased by 9 per cent. The trend continued in August, when international overnight stays grew by almost 29 per cent year on year. Hundreds of events combining art, technology, science, music, theatre and sport continue throughout the final months of 2026. “The programme’s diversity is clearest in the final months. There is something for culture enthusiasts and families alike, with experiences that cannot be found anywhere else. If ever there was a time to visit Oulu, it is now,” says Samu Forsblom, Programme Director of Oulu2026. A major highlight is the Lumo Art & Tech Festival, taking
Ant International and HSBC Expand Real-Time Treasury Management Services to the Middle East6.10.2026 08:30:00 CEST | Press release
Collaboration extends Ant International’s use of tokenised deposits in UAE, supporting faster treasury transactions Ant International today announced an expanded collaboration with HSBC to enhance real-time treasury management services in the Middle East. By leveraging HSBC’s global Tokenised Deposit Service (TDS), Ant International aims to improve the efficiency of its treasury operations across the region. As part of the collaboration, Ant International has successfully completed pilot transactions across two payment corridors connecting the United Arab Emirates and Hong Kong: Intra-UAE dirham transfers: Real-time, dirham-denominated tokenised deposit transactions within the UAE. Cross-border US dollar payments initiated from the UAE: US dollar-denominated tokenised deposit transfers between the UAE and international markets, including Hong Kong and Singapore. These transactions were initiated via WhaleRTP – Ant International’s proprietary, blockchain-based real-time treasury managem
RoslinCT Awarded £7.25 million Scottish Enterprise R&D Grant to Advance Digital Cell Therapy Manufacturing6.10.2026 08:00:00 CEST | Press release
RoslinCT, a leading global cell therapy Contract Development and Manufacturing Organization (CDMO), today announced it has been awarded a Research & Development grant from Scottish Enterprise to accelerate the digital transformation of its manufacturing operations in Scotland. The funding, supported by a Scottish Enterprise R&D grant of up to £7.25 million, forms part of RoslinCT's ambitious digital expansion plan, a multi-year initiative designed to enhance the company's integrated digital and AI capabilities and further strengthen Scotland's position as a global hub for advanced cell and gene therapy manufacturing. The programme will enable the development of a digitally integrated manufacturing environment, improving operational efficiency, data connectivity and manufacturing excellence across RoslinCT's operations. By creating a more connected and data-driven manufacturing environment, RoslinCT will be better positioned to support clients throughout the product lifecycle, helping b
30 Years of Restylane®: Reshaping the Aesthetics Field Through Science-Led, Patient-Centric Innovation6.10.2026 07:00:00 CEST | Press release
Galderma celebrates the 30th anniversary of Restylane, its pioneering range of hyaluronic acid (HA) injectables that established the category as the first to market1 With three decades of innovation across technology, packaging, and treatment areas, Restylane continues to meet growing aesthetic needs, including emerging areas such as medication-driven weight loss, skin quality and menopause1-11 This year’s milestones include the approvals of Restylane Shaype™ in the European Union (EU) for enhancement of the chin region, the new state-of-the-art Restylane syringe in the EU, United States (U.S.), and Canada, and Restylane Volyme™* in the U.S. for temple hollowing, with a dual-layer patent-pending technique leveraging both needle and cannula12-18 With more than 80 clinical trials, 180 publications, around 407,000 patients evaluated for safety, and 77 million treatments administered worldwide, Restylane remains a pioneer in science-backed aesthetic innovation and continues to shape the fu
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