LTIMindtree Reports 10.6% Profit Surge Amid Strategic Initiatives

Technology consultancy LTIMindtree posted a 10.6% rise in net profit, reaching Rs 1,254.1 crore in the June quarter, with revenue growing 7.6% to Rs 9,840.6 crore. Despite macroeconomic challenges, the company remains focused on strategic growth and employee welfare, including a new share issuance under the ESOP.

LTIMindtree, a technology consultancy and digital solutions provider, reported a 10.6% increase in its consolidated net profit, amounting to Rs 1,254.1 crore in the quarter ending June.

This growth comes after the company recorded a profit of Rs 1,133.8 crore in the same period last year, as per its regulatory filing. Revenue climbed to Rs 9,840.6 crore, reflecting a 7.6% rise from the previous year's first quarter.

Despite a challenging macroeconomic landscape, CEO Venu Lambu is optimistic about the company's strategic priority success, spearheaded by initiatives like the Fit4Future program and a pivot towards AI. Meanwhile, shares fell 2.55%, closing at Rs 5,190.95 on the BSE.

(With inputs from agencies.)