LTIMindtree's Impressive Q2: Growth in Profits and Revenue

IT solutions provider LTIMindtree reported a 7.75% increase in Q2 net profits to Rs 1,251 crore. Revenues rose by 5.91% to Rs 9,432 crore. The quarter marked growth across verticals, with significant deals and hiring supporting future momentum. An interim dividend of Rs 20 per share was declared.

IT solutions provider LTIMindtree has reported a notable 7.75% increase in its consolidated net profits for the second quarter ending September 2024, amounting to Rs 1,251 crore.

Compared to last year, when the profits were Rs 1,161 crore, the company also saw a 5.91% revenue boost, reaching Rs 9,432 crore. Sequentially, both profits and revenue have risen by 10.41% and 3.17%, respectively, underscoring a period of broad-based growth.

CEO Debashis Chatterjee attributed this performance to multi-year deal closures, including a USD 200 million-plus deal, and strategic hiring. LTIMindtree's interim dividend stands at Rs 20 per share, and the company's stock closed at Rs 6,401.5 on the BSE, marking a 0.67% increase.

(With inputs from agencies.)