MUMBAI, INDIA--(Business Wire / Korea Newswire)--LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the first quarter ended June 30, 2024, as approved by its Board of Directors.

“While the environment remains unchanged, fiscal 25 started on a positive note for us with Q1FY25 revenue of USD 1.1 billion, registering a 2.5% QoQ and 3.5% YoY revenue growth in USD terms. Our Q1FY25 EBIT expanded to 15% and order inflow remained stable at USD 1.4 billion. Our top 3 industry verticals and our largest geography have performed well sequentially. This is attributed to a measured uptick in IT spending for critical initiatives with clients balancing innovation and fiscal prudence.”

-Debashis Chatterjee, Chief Executive Officer and Managing Director

Key financial highlights:

Quarter ended June 30, 2024

·In USD:
- Revenue at $1,096.2 million (+2.5% Q-o-Q / +3.5% Y-o-Y)

- Net profit at $136.1 million (+2.8% Q-o-Q / -2.9% Y-o-Y)

·In INR:
- Revenue at Rs 91,426 million (+2.8% Q-o-Q / +5.1% Y-o-Y)

- Net profit at Rs 11,351 million (+3.1% Q-o-Q / -1.5% Y-o-Y)

Other highlights:

·Clients:
- 748 active clients as of June 30, 2024

- $1 million+ clients increased by 2 on a Y-o-Y basis, total 390

- $20 million+ clients increased by 3 on a Y-o-Y basis, total 43

·People:
- 81,934 professionals as of June 30, 2024

- Trailing 12 months attrition was 14.4%

Deal Wins

·A major US airline chose LTIMindtree to provide Platform Engineering & Operations Services, leveraging its global delivery footprint in the US, UK, Poland and Australia.
·A US-based insurance and retirement corporate has chosen LTIMindtree as their partner for development and support in the Life & New Business area. This includes accountability for managing 100+ apps in the new business portfolio.
·A US-headquartered company that provides data center solutions to hyperscalers, cloud and enterprise customers has awarded LTIMindtree a multi-year deal to provide PoD-based managed services in the areas of application development, data engineering, infrastructure support, testing, and ITSM.
·A US-headquartered digital marketing company has expanded their relationship with LTIMindtree through a strategic outsourcing deal to accelerate their digital and cost transformation journey in the areas of quality assurance, data analytics and BI, data science, field analytics, and project management.
·A leading global designer and manufacturer of electric domestic appliances has chosen LTIMindtree as their anchor partner to deliver Quality Assurance Services.
·A leading Japanese automotive company awarded LTIMindtree a multi-year service desk support contract.
·A US-based non-profit organization has entrusted LTIMindtree with an Infrastructure & Cybersecurity Managed Services contract. This involves migration of Data Center to Cloud along with implementation and management of security and infra tools.

Partnerships

·LTIM has renewed its Strategic Collaboration Agreement with AWS. This partnership will see both entities work closely to enhance industry alignment across sales, solutions, and delivery. We will collaborate on developing joint solutions targeting key areas such as Generative AI, SAP, data management & migration, and modernization processes.
·LTIM won the AWS Champions Club UK & Ireland 2024 for the most innovative deal category. The award was bestowed at the AWS UKI Partner Summit. LTIM was nominated for 2 GenAI opportunities using technologies like Amazon Sagemaker and Amazon Bedrock.
·LTIM has been recognized as the 2024 Google Cloud Partner of the Year for the Manufacturing Industry Segment, highlighting its success in implementing Google Cloud technologies with specialized domain knowledge and automation.
·LTIM was awarded the Standard of Excellence award along with Star Insurance Group at Duck Creek’s annual event Formation 2024, for simplifying the process of complex Insurance and delivering business effectiveness. LTIMindtree continues to help carriers transform and adopt new, digital AI enabled solutions with the skill, experience & security needed to achieve success.

Recognitions

·LTIMindtree recognized as a ‘Leader’ in Avasant: Avasant’s Multisourcing Service Integration 2023-2024.
·LTIMindtree recognized as a ‘Leader’ and Star performer in Everest Group: Duck Creek Services PEAK Matrix Assessment 2024.
·LTIMindtree recognized as a ‘Leader’ in Everest Group: Capital Markets IT Services PEAK Matrix Assessment 2024.
·LTIMindtree recognized as a Major Contender and Star Performer in Everest Group: Sustainability Enablement Technology Services PEAK Matrix 2024.
·LTIMindtree recognized as a Major Contender in Everest Group: Mainframe Services PEAK Matrix 2024.
·LTIMindtree recognized as a Major Contender in Everest Group: Enterprise Immersive Experience Services PEAK Matrix® Assessment 2024.
·LTIMindtree recognized as a Major Contender in Everest Group: Adobe Services PEAK Matrix Assessment 2024.
·LTIMindtree recognized as a Major Contender in Everest Group: Everest Healthcare Industry Cloud Services 2024.
·LTIMindtree recognized as a Major Contender in Everest Group: Guidewire Insurance PEAK Matrix Assessment 2024.
·LTIMindtree recognized as a Disruptor in HFS Horizons: HCP Service Providers, 2024.
·LTIMindtree recognized as an Enterprise Innovator in HFS Horizons: Industry Cloud Service Providers, 2024.
·LTIMindtree recognized in ‘The Forrester Wave: Continuous Automation and Testing Services, Q2 2024’.

About LTIMindtree

LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 81,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — solves the most complex business challenges and delivers transformation at scale. For more information, please visit https://www.ltimindtree.com/.

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Website: https://www.ltimindtree.com/ Contact LTIMindtree
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This news is a press release provided by LTIMindtree. Korea Newswire follows these editorial guidelines. LTIMindtree News ReleasesSubscribeRSS LTI마인드트리, 전분기 대비 2.6%의 매출 성장 달성 글로벌 기술 컨설팅 및 디지털 솔루션 회사인 LTI마인드트리(LTIMindtree) (인도국립증권거래소: LTIM, 봄베이증권거래소: 540005)가 이사회 승인에 따라 2024년 6월 30일로 마감된 1분기 연결 실적을 오늘 발표했다. 데바시스 채터지(Debashis Chatterjee) 최고경영자 겸 이사는 “환경은 변하지 않았지만, 1... 7월 18일 14:20 LTIMindtree and Snowflake Strengthen Joint Commitment to Enable Enterprises to Accelerate AI Adoption Journey LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, today announced the launch of Canvas.ai, LTIMindtree’s cutting edge enterprise ready AI platform, on the Snowflake AI Data Cloud . This new integration further enhances LTIMindtree’s AI c... 7월 12일 11:45 ... More  More News Economy Consulting Earnings Overseas LTIMindtree All News Releases 