LTIMindtree Q3 PAT slides 16% QoQ to Rs 1,000 cr

LTIMindtree recorded 15.82% decline in consolidated net profit to Rs 1,000.5 crore despite of 4.77% increase in revenue to Rs 8,620 crore in Q3 FY23 over Q2 FY23.

As compared with Q3 FY22, the company's net profit shed 4.68% whereas its revenue has increased by 25.28%.

EBITDA de-grew by 15.9% to Rs 1,374.8 crore in the third quarter as compared with the same period last year. EBITDA margin was 16% in Q3 FY23 as against 19.9% in Q2 FY23.

In dollar terms, the company recorded revenues of $1,046.7 million, registering a growth of 2.4% QoQ and 14% YoY. Revenue growth, in constant currency terms, was 1.9% QoQ and 16.3% YoY.

During the quarter, the IT firm's order inflow was at $1.25 billion.

The company said it added 28 new clients during the quarter ended 31 December 2022. The total client base currently stood at 723 active clients.

Total Headcount in Q3 FY23 was 86,462. The firm's trailing twelve months (TTM) attrition rate stood at 22.3% in Q3 FY23 as against 24.1% in Q2 FY23 and 22.1% in Q3 FY22.

Debashis Chatterjee, chief executive officer and managing director of LTIMindtree said, The combined entity has started out with a $1 billion quarterly revenue run rate, a top-quartile constant currency year-overyear revenue growth of 16.3%, and a robust order inflow of $1.25 billion.

Our performance speaks to our steadfast client focus through the merger and our resilient client and solutions portfolio. Clients across sectors are evincing keen interest in our unique value proposition spanning core to experience to edge. The client imperative to dial up technology-led innovation for future-readiness holds significant long-term upside for our full-stack offerings and crossindustry exposure, boosting our endeavour to deliver industry-leading revenue growth in the future as well.

Meanwhile, the board of directors has recommended an interim dividend of Rs 20 per equity share.

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. LTIMindtree a Larsen & Toubro Group company combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale.

The scrip rose 0.60% to end at Rs 4,269.85 on the BSE.

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