LTIMindtree recorded a 4.7 per cent dip in the net profits in Q3FY23, the first quarter after the merger of erstwhile IT services majors L&T Infotech and Mindtree. Debashis Chatterjee, the CEO and MD of LTIMindtree in an interview with Sourabh Lele says the margins may improve by 200-250 basis points in the next quarter, as integrations will complete.
How would you summarise the quarter? What are the key takeaways from Q3FY23?
It was a historic quarter as two organisations are operationally merging. The process started on November 14, so we had only six weeks in this quarter. Despite all the merger activities, I am very proud of the leadership and the team that they did not lose focus on the business. We saw a very robust growth of 2.4 per cent quarter on quarter (QoQ) and 16.3 per cent year on year (YoY) in contract terms of constant currency. I feel very confident that as we go into the next quarter and beyond, we should be a
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