LTIMindtree Q2FY25 results: Profit up 7.7% on rising deal momentum

LTIMindtree reported a net profit of Rs 1,251.6 crore for the second quarter (Q2) of FY25, up 7.7 per cent year-on-year (Y-o-Y). Sequentially, profit was up 10.3 per cent.

Revenue for the company was up 6 per cent Y-o-Y at Rs 9,432.9 crore for Q2 FY25. On a quarter-on-quarter (Q-o-Q) basis, revenue grew 3.2 per cent.

“Q2 was a good quarter marked by broad-based sequential growth experienced across all our verticals and geos, helping us register dollar growth of 2.8%. We had several multi-year deal closures, including a $200 million+ deal. Continued deal momentum in key verticals and significant Q2 hiring, including freshers, positions us well as we enter into the latter half of the financial year,” said Debashis Chatterjee, Chief Executive Officer and Managing Director.

The growth driver for the company in terms of geography was the US, which grew 7 per cent Y-o-Y and 2.6 per cent sequentially. Europe was down 1.9 per cent Y-o-Y but grew 2.2 per cent sequentially.

In terms of segments, Technology, Media, and Communication grew 12 per cent Y-o-Y and 1.9 per cent Q-o-Q. BFSI was up 2.3 per cent Y-o-Y and 4 per cent sequentially. Manufacturing and Resources was up 5.8 per cent Y-o-Y and 0.7 per cent Q-o-Q.

“As GenAI becomes pivotal in customer interactions, there is a noticeable trend of modernisation efforts focusing on transforming the data estate. Our robust Data practice, combined with our innovative LTIMindtree AI platform, establishes us as a significant disruptor,” said Chatterjee.

The company added 2,504 professionals in Q2 FY25, taking the total headcount to 84,438. Attrition for the quarter was at 14.5 per cent.