Last Updated on January 18, 2024 by ethinos
On January 17, 2024, LTIMindtree Limited (BSE, NSE: LTIM) declared its Q3 2023-24 results, with the full-stack digital enterprise recording robust financials in terms of a rise in revenue and PAT.
Table of Content
Result Takeaways
Here are the overall highlights of Q3 results posted by the Company where some financials are registered in USD and some in INR:
- The Company has had a successful Q3, delivering a USD revenue growth of 3.5% YoY.
- The Revenue of the Company stood at ₹9016.6 Cr (₹90,166 million as posted by the Company), a rise of 1.2% QoQ, and 4.6% YoY.
- The Net Profit for the quarter was ₹1169.3 Cr (₹11,693 million as posted by the Company), marking a growth of 0.6% QoQ, and 16.8% YoY.
- The Company recorded an EBIT rise of 15.8% YoY.
- In Q3, the Company witnessed a robust inflow of orders to the tune of USD 1.5 billion, recording a YoY rise of 21%.
Additional Read: Q3 Results Dashboard
Q3 Result Details from the Management Commentary
The MD and CEO of LTIMindtree Limited had some key details of the results to share and these are mentioned below:
- The Company has delivered a healthy operational performance in Q3 FY24, an otherwise weak quarter overall.
- The Revenue of the Company was high at USD 1.08 billion, registering strong YoY growth.
- The EBIT Margin was 15.4%, a rise of 150 bps on a YoY basis.
- The PAT margin also increased, and stood at 13%, a rise of 140 bps YoY.
- In Q3, the Company booked its highest-ever order inflow at USD 1.5 billion, a rise of 21% YoY.
- Robust cash flow metrics helped the Company to surpass ₹10,000 Cr in terms of investment and cash balance, positioning the Company for positive prospects in the upcoming year.
Other Q3 Highlights
Besides the financial results declared by the Company, other highlights of the result included different aspects of company operations and the business in general. These are mentioned below:
- By the close of Q3, the Company had 739 active customers.
- On a YoY basis, $5 million+ clients rose by 5 and totalled 149.
- On a YoY basis, $10 million+ clients rose by 8 and reached a total of 89.
- By the end of Q3, the Company had 82,471 working professionals, and trailing 12 months attrition was recorded at 14.2%.
- In key deal wins, the Company reported strategic partnerships with, among others, a prominent US oil and gas production enterprise, a diversified multinational mass media company, a top US producer of energy, and an international financial services technology firm.
- In Q3, the Company continues to maintain its alliances with leading organisations such as CISCO Systems, IBM, Microsoft, Oracle, etc.
- Regarding revenues by geography, the most has been generated from the North American markets (72.7%).
- By industry, the most revenue has been generated by the Banking, Financial Services, and Insurance Sectors (35.6%).
Financial Results
Here is a glimpse of the consolidated financial results of Q3 (figures in ₹ Crore (converted from ₹ Mn as posted by the Company, except where indicated by %):
| Metrics | Q3 FY 2023-24 | Q3 FY 2022-23 | YoY % Growth |
| Revenue | 9,016.6 (₹90,166 Mn) | 8,620.0 (₹86,200 Mn) | 4.6% |
| EBIT | 1,385.9 (₹13,859 Mn) | 1,196.7 (₹11,967 Mn) | 15.8% |
| PAT | 1,169.3 (₹11,693 Mn) | 1,000.7 (10,007 Mn) | 16.8% |
Additional Check: LTIMIndtree Limited Share Price
Q3 FY24 Result Summary
An international technology digital solutions and consulting player, LTIMindtree enables organisations spread over industries and sectors to reimagine their business structures and innovate their systems. The Company has more than 82,000 top-class professionals working tirelessly across the globe to deliver high-standard digital solutions across 30 countries and more. This is a company whose parent needs no introduction – Larsen & Toubro – and uses L&T Infotech to empower its clients.
With yet another successful quarter in its bag, LTIMindtree boasts revenue growth and deal wins to see it through in the months ahead. Positioned, by several accolades and recognitions, in Q3 as one of the prominent technology companies, the company touts several lucrative collaborations leading it to growth in the upcoming months.
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