LTIMindtree reports 7.7% profit growth, Mphasis posts 4.6% increase in Q2FY25

Two of India's leading IT companies, LTIMindtree and Mphasis, have reported their financial results for the second quarter of the fiscal year 2025 (Q2FY25), showing varied performances in revenue growth, profitability, and deal momentum.

LTIMindtree posted a 7.7% year-on-year (YoY) increase in consolidated net profit, reaching ₹1,251 crore for the quarter ended September. This marks an improvement from ₹1,161.8 crore in the same period last year. On a sequential basis, the company’s net profit rose 10.33%.

The company's consolidated revenue grew to ₹9,432.9 crore, a 6% YoY rise compared to ₹8,905.4 crore in Q2FY24. Sequentially, revenue was up 3.2% from ₹9,142.6 crore in the previous quarter. In USD terms, LTIMindtree reported revenue of $1,126.6 million, reflecting a 4.7% YoY growth and a 2.8% quarter-on-quarter (QoQ) increase. 

LTIMindtree’s operating margin stood at 15.5% for the quarter. The company also secured several key deals, including a multi-million-dollar agreement with a US-based global manufacturing leader for IT services. Additionally, LTIMindtree signed partnerships with financial institutions in Africa and the US to provide digital transformation, core banking modernisation, and IT support, leveraging artificial intelligence (AI) to drive efficiency. 

Mphasis reported constant currency revenue growth of 2.4%, slightly higher than analyst expectations of 1.8% to 2%. In rupee terms, the company’s revenue increased by 3.3% from the previous quarter to ₹3,536.1 crore. Mphasis’ Earnings Before Interest and Tax (EBIT) rose to ₹544.2 crore, up from ₹513.5 crore in the June quarter, with its EBIT margin expanding to 15.4%. 

The company’s net profit grew by 4.6% on a sequential basis, reaching ₹423.3 crore. Mphasis’ growth was driven primarily by its Technology, Media, and Telecommunications vertical, which grew 5.6% sequentially. Its Banking and Financial Services business grew by 3.2%. However, new deal wins for Mphasis totaled $207 million, a 35% decline from the previous quarter due to a high base in that period.