LTIMindtree share price falls 3% after Q4 result; experts divided about the stock

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₹4655.05 against its previous close of ₹4732.55 and fell about 2.8 per cent to the level of ₹4,599.05. Around 11:15 am, LTIMindtree share price traded 2.76 per cent lower at ₹4,602 apiece. Equity benchmark Sensex was 0.15 per cent up at 73,966.45 at that time.

LTIMindtree's Q4FY24 net profit declined 1.2 per cent year-on-year (YoY) to ₹11,007 crore amid weakness in its banking vertical and persisting merger issues at the company. LTIMindtree declared a final dividend of ₹45 per equity share for the financial year ended March 31, 2024. Also Read: Q4 results: LTIMindtree declares final dividend of ₹45 per equity share As Mint reported, LTIMindtree reported a drop in quarterly revenue for the first time since the company came into existence in November 2022.

Also Read: LTIMindtree reports drop in quarterly revenue, margin falls further LTIMindtree share price has gained nearly 13 per cent over the last year against a 23 per cent gain in equity benchmark Sensex. Many experts and brokerage firms do not look upbeat about the stock's growth prospects. Sanjeev Hota, Head of Research at Sharekhan by BNP Paribas has a hold rating on the stock.

He pointed out that LTIMindtree reported weaker than expected revenue de-growth in constant currency terms. "LTIMindtree has been missing estimates for a few quarters reflecting weakness and pressure amid a challenging environment. Further, top management exits, which were foreseen as key risks at the time of the merger, seem to be playing out and are likely to deter and defer the gradual recovery in the near to medium term," said Hota.