LTIMindtree Delivers 2.6% QoQ USD Revenue Growth in CC
2024年7月17日 - 11:40PM
ビジネスワイヤ(英語)
EBIT Margin improves to 15%
LTIMindtree [NSE: LTIM, BSE: 540005], a global technology
consulting and digital solutions company, announced its
consolidated results today for the first quarter ended June 30,
2024, as approved by its Board of Directors.
“While the environment remains unchanged, fiscal 25 started on a
positive note for us with Q1FY25 revenue of USD 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
USD 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.”
-Debashis Chatterjee, Chief Executive Officer
and Managing Director
Key financial highlights:
Quarter ended June 30, 2024
- Revenue at $1,096.2 million (+2.5% Q-o-Q /
+3.5% Y-o-Y)
- Net profit at $136.1 million (+2.8% Q-o-Q /
-2.9% Y-o-Y)
- Revenue at Rs 91,426 million (+2.8% Q-o-Q /
+5.1% Y-o-Y)
- Net profit at Rs 11,351 million (+3.1%
Q-o-Q / -1.5% Y-o-Y)
Other highlights:
- 748 active clients as of June 30, 2024
- $1 million+ clients increased by 2 on a
Y-o-Y basis, total 390
- $20 million+ clients increased by 3 on a
Y-o-Y basis, total 43
- 81,934 professionals as of June 30,
2024
- Trailing 12 months attrition was 14.4%
Deal Wins
- A major US airline chose LTIMindtree to provide Platform
Engineering & Operations Services, leveraging its global
delivery footprint in the US, UK, Poland and Australia.
- A US-based insurance and retirement corporate has chosen
LTIMindtree as their partner for development and support in the
Life & New Business area. This includes accountability for
managing 100+ apps in the new business portfolio.
- A US-headquartered company that provides data center solutions
to hyperscalers, cloud and enterprise customers has awarded
LTIMindtree a multi-year deal to provide PoD-based managed services
in the areas of application development, data engineering,
infrastructure support, testing, and ITSM.
- A US-headquartered digital marketing company has expanded their
relationship with LTIMindtree through a strategic outsourcing deal
to accelerate their digital and cost transformation journey in the
areas of quality assurance, data analytics and BI, data science,
field analytics, and project management.
- A leading global designer and manufacturer of electric domestic
appliances has chosen LTIMindtree as their anchor partner to
deliver Quality Assurance Services.
- A leading Japanese automotive company awarded LTIMindtree a
multi-year service desk support contract.
- A US-based non-profit organization has entrusted LTIMindtree
with an Infrastructure & Cybersecurity Managed Services
contract. This involves migration of Data Center to Cloud along
with implementation and management of security and infra
tools.
Partnerships
- LTIM has renewed its Strategic Collaboration Agreement with
AWS. This partnership will see both entities work closely to
enhance industry alignment across sales, solutions, and delivery.
We will collaborate on developing joint solutions targeting key
areas such as Generative AI, SAP, data management & migration,
and modernization processes.
- LTIM won the AWS Champions Club UK & Ireland 2024 for the
most innovative deal category. The award was bestowed at the AWS
UKI Partner Summit. LTIM was nominated for 2 GenAI opportunities
using technologies like Amazon Sagemaker and Amazon Bedrock.
- LTIM has been recognized as the 2024 Google Cloud Partner of
the Year for the Manufacturing Industry Segment, highlighting its
success in implementing Google Cloud technologies with specialized
domain knowledge and automation.
- LTIM was awarded the Standard of Excellence award along with
Star Insurance Group at Duck Creek’s annual event Formation 2024,
for simplifying the process of complex Insurance and delivering
business effectiveness. LTIMindtree continues to help carriers
transform and adopt new, digital AI enabled solutions with the
skill, experience & security needed to achieve success.
Recognitions
- LTIMindtree recognized as a ‘Leader’ in Avasant: Avasant’s
Multisourcing Service Integration 2023-2024.
- LTIMindtree recognized as a ‘Leader’ and Star performer in
Everest Group: Duck Creek Services PEAK Matrix Assessment
2024.
- LTIMindtree recognized as a ‘Leader’ in Everest Group: Capital
Markets IT Services PEAK Matrix Assessment 2024.
- LTIMindtree recognized as a Major Contender and Star Performer
in Everest Group: Sustainability Enablement Technology Services
PEAK Matrix 2024.
- LTIMindtree recognized as a Major Contender in Everest Group:
Mainframe Services PEAK Matrix 2024.
- LTIMindtree recognized as a Major Contender in Everest Group:
Enterprise Immersive Experience Services PEAK Matrix® Assessment
2024.
- LTIMindtree recognized as a Major Contender in Everest Group:
Adobe Services PEAK Matrix Assessment 2024.
- LTIMindtree recognized as a Major Contender in Everest Group:
Everest Healthcare Industry Cloud Services 2024.
- LTIMindtree recognized as a Major Contender in Everest Group:
Guidewire Insurance PEAK Matrix Assessment 2024.
- LTIMindtree recognized as a Disruptor in HFS Horizons: HCP
Service Providers, 2024.
- LTIMindtree recognized as an Enterprise Innovator in HFS
Horizons: Industry Cloud Service Providers, 2024.
- LTIMindtree recognized in 'The Forrester Wave: Continuous
Automation and Testing Services, Q2 2024'.
About LTIMindtree
LTIMindtree is a global technology consulting and digital
solutions company that enables enterprises across industries to
reimagine business models, accelerate innovation, and maximize
growth by harnessing digital technologies. As a digital
transformation partner to more than 700 clients, LTIMindtree brings
extensive domain and technology expertise to help drive superior
competitive differentiation, customer experiences, and business
outcomes in a converging world. Powered by 81,000+ talented and
entrepreneurial professionals across more than 30 countries,
LTIMindtree — a Larsen & Toubro Group company — solves the most
complex business challenges and delivers transformation at scale.
For more information, please visit
https://www.ltimindtree.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20240717786073/en/
Media Relations: shambhavi.revandkar@ltimindtree.com