LTIMindtree, a leading IT services firm based in Mumbai, announced a significant 7.7% increase in its net profit for Q2FY25, reaching ₹1,251.6 crore, compared to ₹1,162 crore in the same quarter last year. Sequentially, this marks a robust growth of 10.3% from the ₹1,135 crore reported in the previous quarter.
In terms of revenue, the company reported a consolidated growth of 5.9%, totaling ₹9,432.9 crore for Q2FY25, up from ₹8,905.4 crore in Q2FY24. This also reflects a 3.2% increase from the ₹9,142.6 crore recorded in Q1FY25.
When looking at figures in USD, the revenue saw a rise of 4.7% year-on-year, amounting to $1.13 billion, with a quarter-on-quarter increase of 2.8%.
Debashis Chatterjee, the CEO and Managing Director, expressed optimism about the quarter’s performance, stating, “Q2 was a strong quarter characterized by widespread sequential growth across all our sectors and regions. We secured several multi-year contracts, including one exceeding $200 million. The ongoing deal momentum in critical sectors and significant hiring in Q2, particularly fresh talent, positions us favorably as we progress into the second half of the fiscal year.”
For the September quarter, the company’s operating margins improved to 15.5%, an increase of 50 basis points from the previous quarter’s 15%, although slightly down from last year’s margin of 16%. Notably, over a third of LTIMindtree’s revenue is derived from the banking, financial services, and insurance sectors, with three-fourths of its business originating from North America.