LTIMindtree Q2 Results: Net profit falls 2% YoY; dividend declared at Rs 20/ share
economictimes.indiatimes.comLTIMindtree on Wednesday announced that it's consolidated net profit fell by a marginal 2% to Rs 1,162 crore in the September quarter. It was Rs 1,188 crore in the year-ago quarter.
The profit, however, beat the ET Now Poll estimate of Rs 1,120 crore.
Revenue from operations, meanwhile, jumped 8% to Rs 8,905 crore in the second quarter.
The same stood at Rs 8,228 crore in the last year quarter.
The company's board has approved an interim dividend of Rs 20 per equity share. The record date for the same is fixed as October 27.
In dollar terms, revenue for the quarter came in at $1.07 billion, which is higher by 5% year-on-year (YoY).
EBIT declined marginally by 1% to Rs 1,423 crore during the September quarter with a margin 16%.
“Our results in the second quarter were highlighted by strong revenue growth of 5.2% YoY, in USD terms, along with a healthy operating margin of 16% despite wage hikes across the organization," said Debashis Chatterjee, CEO and MD, LTIMindtree.
In dollar terms, revenue for the quarter came in at $1.07 billion, which is higher by 5% YoY. EBIT declined marginally by 1% to Rs 1,423 crore during the September quarter with a margin 16%.
“Our results in the second quarter were highlighted by strong revenue growth of 5.2% YoY, in USD terms, along with a healthy operating margin of 16% despite wage hikes across the organization," said Debashis Chatterjee, CEO and MD, LTIMindtree.
The company has 737 active clients, as of September quarter with an order inflow of $1.3 billion.
The number $50 million plus and $20 million plus clients increased by 3 each during the reporting quarter.
«This all-round performance, in a challenging business environment, demonstrates the strength of our capabilities and
