Shares of LTIMindtree were up on Thursday morning as the company's Q1 results beat the street's expectations and upbeat management commentary.

What Happened: LTIMindtree’s results for the June quarter saw its consolidated net profit fall 1.49% from the previous year to ₹1,135.1 crore. Its revenue from operations grew 5.06% Year on Year (YoY) to ₹9,142.6 crore. In constant currency terms, revenue grew 3.5% YoY. EBIT margin was at 15% down from 16.7% in the previous year. 

The revenue growth mainly beat most of the brokerage’s estimates while net profit fell short.

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Brokerage Views: Motilal Oswal upgraded the stock to "buy" with a target price of ₹7,000. The brokerage reasoned the company's superior offerings in data engineering and Enterprise resource planning (ERP) modernisation, which positions the company well to capture the pre-Gen AI expenditures.

The research firm sees the company outperform its large-cap peers and expects low double-digit currency growth for FY26. The company's commentary on clients resuming "high priority transformation" projects such as data engineering, data estate modernization, and ERP modernization is highly encouraging, the brokerage said. 

Nuvama Institutional Equities maintained a "buy" call and increased the target price to ₹7,000. The brokerage said the company started FY25 with a strong start after a disappointing FY24 with broad-based revenue growth. It expects solid revenue growth and gradual margin expansion due to growth in Hi-tech and revival in the Banking, Financial Services and Insurance (BFSI) segment. 

Price Action: Shares of LTIMindtree rose 2.34% to ₹5,692.65 on Thursday morning. 

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