Hazy business outlook clouds LTIMindtree's double-digit growth plan

Orders remained robust while Q1 margins came in line with estimates

The stock of LTIMindtree finished at Rs 5,001 a piece on Monday, which means it is down about 5 per cent from its all-time high as its June quarter results for the 2023-24 financial year (Q1FY24) missed estimates. A cautious note by the management, coupled with the fact that it will miss its double digit revenue growth target for FY24 weighed on the stock price.

The company delivered revenues of just over a billion dollars in the quarter with constant currency growth of 0.1 per cent. This was lower than the 0.4-0.7 per cent growth estimated by brokerages. The miss