Revenue from operations increased 2.8% QoQ to Rs 9,142.6 crore in Q1 FY25.
As compared with Q1 FY24, the company’s net profit declined 1.5% and revenue jumped 5.1%.
Profit before tax (PBT) stood at Rs 1,525.6 crore in Q1 FY25, up 5.34% QoQ and 0.7% YoY.
In Q1 FY25, EBITDA was at Rs 1606.1 crore, down 1.8% YoY. EBITDA margin fell to 17.6% in Q1 FY25 as against 18.8% in Q1 FY24.
In dollar terms, the IT firm’s revenue stood at $ 1,096.2 million in Q1 FY25 up 2.5% QoQ and 3.5% YoY. Net profit was at $ 136.1 million, up 2.8% QoQ and down 2.9% YoY. In constant currency terms, revenue grew 2.6% QoQ and 3.7% YoY.
The company said that it added 27 new clients during the quarter ended 30 June 2024. Total client base currently stood at 748 active clients.
Total headcount in Q1 FY25 was 81,934. The firm's TTM attrition rate stood at 14.4% in Q1 FY25.
Debashis Chatterjee, chief executive officer and managing director, said, “While the environment remains unchanged, fiscal 25 started on a positive note for us with Q1FY25 revenue of $1.1 billion, registering a 2.5% QoQ and 3.5% YoY revenue growth in $ terms. Our Q1FY25 EBIT expanded to 15% and order inflow remained stable at $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.”
Meanwhile, the company’s board approved to setup a wholly owned subsidiary in Brazil with an initial investment of $1 million in one or more tranches.
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. LTIMindtree a Larsen & Toubro Group company combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale.
The counter advanced 1.53% to ends at Rs 5,561.65 on 16 July 2024. The domestic market is closed today on account of Moharram.