LTIMindtree Q1 Results: Revenue Up 2.5% to $1.1 Billion
LTIMindtree Ltd, one of India’s top IT companies, announced a 2.5% increase in revenue to $1.1 billion for the April-June quarter. This growth was fueled by key business verticals like banking, finance, insurance, technology, media, and communications, which make up nearly 60% of the company’s revenue.
The company’s net profit also saw a 3% increase to $136 million, surpassing expectations. LTIMindtree’s management is optimistic about future prospects, citing early signs of recovery in the market, particularly in BFSI and technology sectors.
Formed in May 2022 from the merger of L&T Infotech and Mindtree, LTIMindtree continues to see strong growth in North America, accounting for 75.1% of its revenue. The company’s focus on AI and innovative technologies, along with a robust pipeline of business engagements, is driving its success.
Despite challenges, LTIMindtree remains committed to improving its operational margins and expanding its workforce. With a strategic focus on AI and data-driven solutions, the company is well-positioned for future growth and success in the competitive IT industry.
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