Larsen and Toubro group company, LTIMindtree, a prominent player in IT services, has recently announced its financial performance for the first quarter of fiscal year 2025.
Here are the key highlights:
Workforce Metrics
In Q1FY25, the company’s headcount fell to 81,934 from 82,738 in Q1FY24 but rose from 81,650 in Q4FY24, reflecting adjustments amid an uncertain macro environment.
The trailing twelve-month (TTM) attrition rate for Q1FY25 remained at 14.4%, unchanged from Q4FY24, but lower than Q1FY24’s 17.8%. Managing attrition remains a critical focus area for the organization, given the competitive talent sphere in the IT industry.
During the quarter ended on June 30, 2024, the company onboarded 27 new clients. The top three industry verticals (likely BFSI, Hi-Tech, and manufacturing) and the largest geographical markets performed well sequentially.
The positive momentum in these segments is attributed to measured upticks in IT spending by clients, balancing innovation and fiscal prudence.
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Debashis Chatterjee, Chief Executive Officer, and Managing Director, shared his thoughts on the results of Q1 FY25.
Debashis stated, “While the environment remains unchanged, fiscal year 2025 started on a positive note for us. Our Q1 FY25 revenue of $1.1 billion represents a 2.5% QoQ and 3.5% YoY growth in dollar terms.”
He further added, “We’ve seen green shoots in our top industry verticals, and our order inflow remains stable at $1.4 billion. Clients are balancing innovation and fiscal prudence, driving critical initiatives.”
Financial Performance by LTIMindtree
LTIMindtree reported a consolidated net profit of ₹1,135.1 crore in Q1 FY25. This represents a 3.1% increase compared to the previous quarter (Q4 FY24). However, when compared to Q1 FY24, the net profit declined slightly by 1.5%.
The revenue from operations for Q1 FY25 stood at ₹9,142.6 crore, reflecting a 2.8% sequential growth. On a year-on-year basis, revenue increased by a healthy 5%.
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