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Shares of LTIMindtree rose over 4 per cent on Tuesday after the company signed a multi-year deal with a global media and entertainment firm.
The information technology (IT) firm LTIMindtree's stock rose as much as 4.3 per cent during the day to ₹5,501 per share, the biggest intraday jump since May 12 this year. The stock pared gains to trade 0.8 per cent higher at ₹5,317.5 apiece, compared to a 0.42 per cent advance in Nifty 50 as of 9:58 AM.
Shares of the company rose for the second day and currently trade at four times the average 30-day trading volume, according to Bloomberg. The counter has fallen 5 per cent this year, compared to a 6.2 per cent advance in the benchmark Nifty 50. LTIMindtree has a total market capitalisation of ₹1.57 trillion.
LTIMindtree inks multi-year deal
LTIMindtree has entered a multi-year agreement with a leading global media and entertainment company, marking the largest strategic deal in the company’s history and building on an existing long-term partnership.
Under the agreement, LTIMindtree will support the client's digital transformation efforts, aiming to streamline operations and modernise delivery models. The engagement will leverage automation, process optimisation, and vendor consolidation to improve efficiency and enhance service quality.
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"This agreement reflects the trust placed in our expertise and our shared commitment to building future-ready enterprises with technology-driven solutions that enhance operational efficiencies, enable growth, and drive measurable business impact in an industry that’s constantly innovating," said Venu Lambu, chief executive officer and managing director of LTIMindtree.
LTIMindtree Q1 results
LTIMindtree reported a Y-o-Y net profit rise of 10.6 per cent to ₹1,254.6 crore and revenue up 7.6 per cent at ₹9,840.6 crore. On a sequential basis, profit grew 11.2 per cent, while revenue inched up 0.7 per cent. While the company’s top line marginally missed Bloomberg estimates of ₹9,855.4 crore, the bottom line outperformed expectations pegged at ₹1,194 crore.
In dollar terms, revenue stood at $1,153.3 million, reflecting a growth of 2 per cent Q-o-Q and 5.2 per cent Y-o-Y. Constant currency (CC) growth was 0.8 per cent Q-o-Q. Ebit margin expanded by 50 basis points to 14.3 per cent, despite seasonal visa costs and forex headwinds, aided by 100bps cost savings from Fit4Future - a programme aimed at improving operational efficiency.
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