LTIMindtree Q4 FY23 Net Profit Flat At Rs 1,114 Cr

LTIMindtree on Thursday reported its Q4 FY23 net profit at Rs 1,114.1 crore, up 0.5 per cent year-on-year (YoY). 

During Q4, the company’s revenue grew 21.9 per cent YoY to Rs 8,619 crore as against Rs 7,128 crore in the same quarter a year ago.

“We are pleased to report a strong FY23, with a broad-based full year revenue growth of 19.9 per cent in constant currency,” said Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree.

“This industry-leading performance positions us well to deliver continued profitable growth in FY24. As we move to unified systems & processes, we are ready to exploit the synergies. Our Q4 revenue came in at a healthy USD 1.06 billion - up 13.5 per cent year-over-year in constant currency and 11.9 per cent in reported USD terms,” he added.

During the year ended 31 March, 2023, the company had 728 active clients. And its USD 1 million+ clients increased by 56, total 383 (increased by 9 in Q4), USD 10 million+ clients increased by 5, total 81 (no change in Q4) and  USD 50 million+ clients increased by 3, total 13 (increased by 2 in Q4).

LTIMindtree’s Board of Directors have recommended a final dividend of Rs 40 per equity share of par value Rs 1 each for the financial year ended 31 March, 2023.

During the quarter, the company's attrition on trailing 12 months was at 20.2 per cent for the fourth quarter, while the total headcount was at 84,546.