LTIMindtree Q3 results: Net profit dips 4.6% to Rs 1,000 cr, revenue up 25%
IT company LTIMindtree on Friday posted a consolidated net profit of Rs 1,000.7 crore for the December quarter, a 4.6 per cent decline over the year-ago period due to one-off impact of merger-related integration cost.
In November last year, L&T Group had announced operationalisation of the merger of Mindtree with LTI (Larsen & Toubro Infotech), creating the country's sixth-largest software firm.
The company's net profit stood at Rs 1,000.7 crore in the December 2022 quarter, compared to Rs 1,050.1 crore in the same period previous year.
The revenue from operations came in at Rs 8620 crore for just-concluded Q3FY23, up 25.2 per cent on a year-on-year basis.
We are pleased to report a strong Q3 FY23, our first as LTIMindtree," Debashis Chatterjee, Chief Executive Officer and Managing Director of the combined entity said.
The combined entity has started out with a USD 1 billion quarterly revenue run rate, a top-quartile constant currency year-over year revenue growth of 16.3 per .