
LTIMindtree Q4 results: Profit flat at ₹1,114 cr; declares dividend of ₹40
In dollar terms, net profit dropped 7.8% YoY to $135.6 million, while revenue rose 11.9% YoY to $1,057.5 million.
In dollar terms, net profit dropped 7.8% YoY to $135.6 million, while revenue rose 11.9% YoY to $1,057.5 million.
Extending losing streak for the fourth straight session, LTIMindtree shares declined as much as 2.4% to hit an intraday low of ₹4,575 on the BSE
Last month, L&T Group announced the merger of its IT subsidiaries in a share swap deal at a ratio of 73 shares of LTI for every 100 shares of Mindtree.
As per the agreement, the merger will be a share swap deal at a ratio of 73 shares of LTI for every 100 shares of Mindtree.
The company’s revenue from operations surged 31.5% at ₹3,400.4 crore, compared to ₹2,586 crore in the same period last year.
Wipro shares fell 6% to hit its 52-week low of ₹383.25 on disappointing earnings, while HCL Tech rose 4% on dividend payout.
L&T Infotech's revenue rose 30.6% on a YoY basis to ₹4,522.8 cr; Q1 EBITDA margin declined to 18.4% from 18.7% during the same period last year
Mindtree’s Q1 FY23 revenue rises 5.5% sequentially in constant currency; EBITDA margins at 21.1%
The Sensex and Nifty are set to open a tad higher on Wednesday, tracking mixed cues from global peers and positive trends on SGX Nifty.
IT heavyweights TCS, Infosys, and Wipro are expected to post constant currency revenue growth in the range of 2.5-4.5% on a quarter-on-quarter basis