BENGALURU: In its first earnings report as a merged entity, LTIMindtree on Friday reported a 4.7% decline in its consolidated net profit at Rs 1,000.7 crore for the quarter ending December 31, 2022, compared to Rs 1,050 crore in the same quarter last year.
Sequentially, it reported a 15.8% fall in net profit. Debashis Chatterjee, CEO and MD of LTIMindtree, said the company expects its sequential growth momentum to accelerate in Q4 as the impact of furlough eases. Revenue for Q3 rose 25.3% year-on-year (YoY) at Rs 8,620 crore against Rs 6,880.7 crore in the year-ago period. EBITDA margin for Q3 stood at 16% against 20.7% in the year-ago period.
“Combined entity has started out with a $1 billion quarterly revenue run rate, a top-quartile constant currency YoY revenue growth of 16.3%, and a robust order inflow of $1.25 billion. Clients across sectors are evincing keen interest in our unique value proposition spanning core to experience to edge,” he added.
It sees a higher level of caution baked into spending plans across sectors. The Board of Directors has recommended an interim dividend of Rs 20 per equity share.