LTIMindtree share price jumps 5% post Q2 results; brokerages express mixed views; here's what they say
₹5,191.05 against the previous close of ₹5,156.90 and rose almost 5 per cent to the intraday high of ₹5,411 in Thursday's trade so far. Around 10:40 am, the stock was 4.23 per cent up at ₹5,374.80 on the BSE. LTIMindtree share price has gained about 14 per cent in the last one year against an about 11 per cent gain in the equity benchmark Sensex.
The stock hit its 52-week high of ₹5,590 on September 14 this year and a 52-week low of ₹4,120 on January 23 this year, on the BSE. LTIMindtree reported a consolidated net profit of 1161.8 crore for the second quarter ending September 30, marking a sequential increase of 0.9 per cent. The IT company's revenue for the second quarter of the current financial year stood at ₹8,905.4 crore, as against ₹8,702.1 crore for the corresponding period a year ago.
The company saw its operating margin drop below its guidance of 17-18 per cent for FY24. LTIMindtree reported an operating margin of 16 per cent, down 70 basis points (bps) sequentially. However, the company management said in its post-earnings press conference that it remains confident of achieving the guided margin, and has not revised its target for FY24.
Also Read: LTIMindtree margin drops below FY24 guidance in Q2 Besides, the company announced an interim dividend of ₹20 per equity share of face value of ₹1 each. The record date for the same has been fixed on October 27, 2023, according to a stock exchange filing. Also Read: LTIMindtree Q2 result: L&T unit announces interim dividend of Rs.
Read more on livemint.com
