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LTIMindtree Q4 PAT drops 6% QoQ to Rs 1,100 cr

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LTIMindtree said that its net profit fell 5.87% to Rs 1,100 crore in Q4 FY24 as compared with Rs 1,169 crore posted in Q3 FY24.
Revenue from operations declined 1.38% to Rs 8,892 crore in Q4 FY24 as compared with Rs 9,016 crore in Q3 FY24.
As compared with Q4 FY23, the company's net profit fell 1.26% and revenue from operations jumped 2.31% during the quarter.
Profit before tax declined 6.24% QoQ to Rs 1448 crore in Q4 FY24.
EBITDA stood at Rs 1,603.7 crore in Q4 FY24, down 3.1% QoQ and 4.2% YoY. EBITDA Margin was 17.3% in Q4 FY24 as against 17.6% in Q3 FY24 and 18.5% in Q4 FY23.
In dollar terms, the company recorded a revenue of $1,069.4 million in Q4 FY24, down 1.3% QoQ and up 1.1% YoY. Revenue growth, in constant currency terms, was down 1.3% QoQ and 1.2% YoY.
The company said it added 30 new clients during the quarter ended 31 March 2024. The total client base currently stood at 738 active clients
Total Headcount in Q4 FY24 was 81,650. The firm's trailing twelve months (TTM) attrition rate stood at 14.4% in Q4 FY24 as against 20.2% in Q4 FY23 and 14.2% in Q3 FY24.
On FY24 basis, the companys net profit increased 4% to Rs 4,584.6 crore in FY24 as compared with Rs 4410 crore in FY23. Revenue from operations jumped 7.03% YoY to Rs 35,517 crore in FY24.
Meanwhile, the companys board has declared a dividend of Rs 45 per equity share for FY24.
Debashis Chatterjee, chief executive officer and managing director, said, We closed FY24 amidst a tough macro environment and delivered a resilient performance with full-year revenue growth of 4.4% in USD terms and an EBIT margin of 15.7%. Our order inflow for the full year at USD 5.6 billion registered a 15.7% growth over FY23. This growth reflects the positive outcomes of our positioning as an organization with scale, expanded capabilities, and larger partnerships. As the market dynamics evolve, we are excited to be part of innovations, partnerships, and initiatives that our clients will embark on in FY 25.
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 0.23% to end at Rs 4,732.55 on Wednesday, 24 April 2024.
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First Published: Apr 24 2024 | 5:06 PM IST

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