LTIMindtree Q1FY25 results: Revenue grows 5% YoY, net profit declines 1.5%

LTIMindtree, a software and consulting company, has reported a 1.53% decline in net profit for the June quarter of FY25, compared to ₹1,152 crore in the same period last year. However, on a sequential basis, net profit rose by 3%. 

The firm's revenue from operations increased to ₹9,142 crore in Q1 FY25 from ₹8,702 crore in Q1 FY24, marking a 5% year-on-year growth. 

Meanwhile, the earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin for Q1 FY25 decreased to 17.6% from 18.8% in the previous year. In the last quarter of the previous fiscal year, this margin stood at 17.3%. 

LTIMindtree reported positive developments in client engagement for this quarter, with 748 active clients as of June 30, 2024. The number of clients generating over $1 million in revenue grew by 2 year-on-year, totaling 390. Clients contributing over $20 million increased by 3, reaching 43. 

Debashis Chatterjee, Chief Executive Officer and Managing Director, said, “While the environment remains unchanged, fiscal 25 started on a positive note for us with Q1FY25 revenue of $1.1 billion, registering a 2.5% QoQ and 3.5% YoY revenue growth in USD terms. Our Q1FY25 EBIT expanded to 15% and order inflow remained stable at $1.4 billion.”

“Our top 3 industry verticals and our largest geography have performed well sequentially. This is attributed to a measured uptick in IT spending for critical initiatives with clients balancing innovation and fiscal prudence,” he added. 

Total deal wins for the quarter were $1.4 billion, remaining flat both sequentially and year-on-year. The company's total headcount at the end of Q1 stood at 81,934, with an addition of 284 employees during the quarter.