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Slow margin recovery likely to remain a headwind for LTIMindtree

Reversal of furloughs, continued strength in the BFSI vertical and ramp-up of deals will be the key drivers for growth in Q4FY25

LTIMindtree
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LTIM clocked an EBIT margin of 13.7 per cent in Q3FY25 (-170 bps Q-o-Q) mainly due to salary hikes (two-month impact in Q3FY25). (File Image)

Devangshu Datta

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LTIMindtree’s (LTIM’s) December quarter revenue, at $1.139 billion, was up 1.8 per cent quarter-on-quarter (Q-o-Q) (5.6 per cent year-on-year or Y-o-Y) in constant currency (CC) terms, marginally ahead of expectations.
 
Growth was led by manufacturing (+8.1 per cent Q-o-Q) and banking, financial services and insurance or BFSI (+3.4 per cent Q-o-Q, both in dollar terms).
 
The earnings before interest and tax (EBIT) margin was at 13.8 per cent (down 170 basis points or bps Q-o-Q, down 160 bps Y-o-Y).
 
Total contract value (TCV) of deal wins was at $1.6 billion, up +12 per cent Y-o-Y and book-to-bill was 1.5 times.

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