LTIMindtree released its Q2 results on Thursday evening after the market close.

What Happened: LTIMindtree reported a consolidated net profit of ₹1,251.60 crore, which was 7.68% up from the previous year. The company’s revenue was up 5.92% year on year to ₹9432.9 crore from the previous year. EBIT margin improved to 16% from 15.5% in the previous year.

The average of five brokerages put LTIMindtree’s expected net profit at ₹1,235.68 crore and a revenue of ₹9458.22 crore. The results managed to meet the estimates. The company also declared an interim dividend of ₹20 per equity share.

See Also: Wipro Q2: Net Profit Jumps 21% To ₹3,209 Cr, Beats Estimates

In the previous year, LTIMindtree reported a net profit of ₹1162.3 crore and a revenue of ₹8905.4 crore. In the June quarter, the company posted a net profit of ₹1,135.1 crore. Revenue was at ₹9,142.6 crore.

As of September 30, 2024, the company had 742 active clients. The number of $5 million+ clients grew by 8 year-over-year (YoY), bringing the total to 154. Similarly, the number of $20 million+ clients increased by 1 YoY, reaching a total of 42 clients.

LTIMindtree had been removed from the benchmark Nifty 50 index in September rejig along with Divi’s Laboratories. Trent and BEL replaced the stocks in the index after the latter’s six-month average free-float market capitalisation was at least 1.5 times that of the former.

Price Action: Shares of LTIMindtree rose 0.77% to ₹6,408 ahead of the result announcement.

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