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LTIMindree Net Profit Falls 4.7%, Board Recommends Rs 20 Dividend

Its trailing 12 months attrition was 22.3 per cent

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Newly formed, LTIMindree announced its consolidated results on Friday for the third quarter ended December 31, 2022. The company saw its net profit at Rs 1000.7 crore (decline of 15.8 per cent quarter-on-quarter (QoQ)/ 4.7 per cent year-on-year (YoY).

During the Q3, the company’s revenue was at Rs 8620.0 crore (growth of 4.8 per cent QoQ / 25.3 per cent YoY).

LTIMindtree had 86,462 professionals as of 31 December, 2022 and its trailing 12 months attrition was 22.3 per cent.

“We are pleased to report a strong Q3 FY23, our first as LTIMindtree,” said Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree. 

The company’s board of directors has recommended an interim dividend of Rs 20 per equity share of  par value Rs 1 each.

“The combined entity has started out with a USD 1 billion quarterly revenue run rate, a top-quartile constant currency year-over-year revenue growth of 16.3 per cent, and a robust order inflow of USD 1.25 billion,” Chatterjee added.

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LTIMindtree quarterly results Q3 FY23