LTIMindtree Ltd share Price Today

Slippage was at an all-time high and the bank wrote-off Rs 3500 crore (almost 4% of loans), its second largest write-off. Despite this, the SMA pool remains unchanged QoQ, imp

Bandhan Bank stock nosedived ~10% in trade after reporting weak earnings performance in its Q2FY23 quarterly results over the weekend.  NIMs declined, provisions doubled, slippages elevated, significant jump in Cost to income ratio impacted earnings. Higher write-offs spoilt the show leading to PAT of Rs. 209 cr, down 76% QoQ. 

IT Consulting & Software company LTIMindtree announced FY24 & Q4FY24 results:

Q4FY24 Financial Highlights:

• In USD:
Revenue at USD 1,069.4 million (-1.3% QoQ / 1.1% YoY)
Net profit at USD 132.4 million (-5.8% QoQ / -2.4% YoY)
• In INR:
Revenue at Rs 88,929 million (-1.4% QoQ / 2.3% YoY)
Net profit at Rs 11,007 million (-5.9% QoQ / -1.2% YoY)

FY24 Financial Highlights:

• In USD:
Revenue at USD 4,287.3 million (growth of 4.4% YoY)
Net profit at USD 553.4 million (growth of 1.4% YoY)
• In INR:
Revenue at Rs 3,55,170 million (growth of 7.0% YoY)
Net profit at Rs 45,846 million (growth of 4.0% YoY) 

Other highlights:
• Clients:

• 738 active clients as of March 31, 2024.
• USD 5 million clients increased by 7 on a YoY basis, total 153.
• USD 10 million clients increased by 10 on a YoY basis, total 91.
• USD 20 million clients increased by 2 on a YoY basis, total 40.

• People:

• 81,650 professionals as of March 31, 2024.
• Trailing 12 months attrition was 14.4%.

Debashis Chatterjee, Chief Executive Officer and Managing Director said, “We closed FY24 amidst a tough macro environment and delivered a resilient performance with full-year revenue growth of 4.4% in USD terms and an EBIT margin of 15.7%. Our order inflow for the full year at USD 5.6 billion registered a 15.7% growth over FY23. This growth reflects the positive outcomes of our positioning as an organization with scale, expanded capabilities, and larger partnerships. As the market dynamics evolve, we are excited to be part of innovations, partnerships, and initiatives that our clients will embark on in FY 25.”

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