LTIMindtree Delivers 1.8% QoQ and 5.6% YoY Revenue Growth in CC
LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the third quarter ended Dec 31, 2024, as approved by its Board of Directors.
“We closed Q3FY25 with a revenue of USD 1.14 billion, registering a sequential growth of 1.8% in constant currency and 1.1% in USD terms. Our differentiated AI strategy has helped us record our highest-ever order inflow of USD 1.68 billion, laying the foundation for future growth. Our ongoing investments in AI, including new partnerships and specializations, and accolades, support our efforts to continue growing as we enter CY25.”
- Debashis Chatterjee, Chief Executive Officer and Managing Director
Key financial highlights:
Quarter ended Dec 31, 2024
In USD:
- Revenue at $1,138.7 million (+1.1% Q-o-Q / +5.1% Y-o-Y)
- Operating Margin (EBIT) at 13.8%
- Net profit at $128.1 million (-14.3% Q-o-Q / -8.8% Y-o-Y)
In INR:
- Revenue at Rs 96,609 million (+2.4% Q-o-Q / +7.1% Y-o-Y)
- Net profit at Rs 10,867 million (-13.2% Q-o-Q / -7.1% Y-o-Y)
Other highlights:
Clients:
- 742 active clients as of Dec 31, 2024
- $5 million+ clients increased by 3 on a Y-o-Y basis, total 152
- $10 million+ clients increased by 1 on a Y-o-Y basis, total 90
- $50 million+ clients increased by 1 on a Y-o-Y basis, total 13
People:
- 86,800 professionals as of Dec 31, 2024. Added 2,362 in Q3
- Trailing 12 months attrition was 14.3%
Deal Wins
AI in Everything Deal Wins
- A global manufacturer chose LTIMindtree to manage its end-to-end IT landscape using LTIMindtree’s ‘AI in Operations’ platform.
- A leading global investment firm has selected LTIMindtree’s proprietary ‘AI in Infrastructure’ platform to manage its end-to-end infrastructure services.
- A leading commercial property and casualty insurance management company selects LTIMindtree to provide end-to-end services for Duck Creek Suite.
- A Middle East Nuclear Energy company chose for its end-to-end IT landscape, leveraging our ‘AI in Operations’ platform.
- A leading Middle East Oil and Gas major has partnered with LTIMindtree to implement AI in Cloud operations.
- Headquartered in New York, a leading provider of credit ratings chose LTIMindtree to implement AI in Application Managed Services.
Everything for AI Deal Wins
- A state-owned insurance company selected LTIMindtree to implement data fabric and development of AI use cases, including data governance.
- A leading US-headquartered software company that provides enterprise cloud computing solutions has entrusted LTIMindtree with managing their NextGen data fabric.
- A leading Middle East Oil and Gas major has partnered with LTIMindtree to implement an advanced data governance platform.
Partnerships
- LTIMindtree attained AWS GenAI competency, consequently strengthening its expertise in GenAI on AWS, including Amazon Bedrock and Quicksight. This is one of the most sought-after competencies amongst all AWS partners and marks LTIMindtree’s 11th AWS Specialization. This achievement further enhances LTIMindtree’s overall credibility in AI Innovation with AWS.
- LTIMindtree and Microsoft Join Forces to Supercharge AI Innovation and Digital Transformation for Global Enterprises by utilizing Microsoft's advanced technologies like 365 Copilot and Canvas Sunshine.
- LTIMindtree launched a comprehensive 360-degree solution for Oracle Database Migration to Azure Cloud, ensuring a smooth transition, minimal downtime, and optimized performance.
- LTIMindtree achieved ITOM visibility ServiceNow's Product Line Achievements (PLAs). PLAs allow a partner to showcase their expertise and commitment to excellent customer service. These achievements serve as badges of honour in the ServiceNow community and will enhance LTIMindtree’s proposition to impress upon clients.
- LTIMindtree was conferred Boomi’s Asia Partner of the Year Award at the 2024 APJ Partner Summit. This award highlights our expertise in integrating Boomi’s technology to drive digital transformation with innovative AI solutions.
Recognitions
- LTIMindtree recognized in Forrester’s ‘The Customer Analytics Service Provider Landscape, Q1 2025’.
- LTIMindtree recognized in Forrester’s ‘The Application Modernization and Multicloud Managed Services Landscape, Q4 2024’.
- LTIMindtree recognized in Forrester’s ‘The Automation Fabric Services Wave, Q4 2024'.
- LTIMindtree recognized in Forrester’s ‘The Business Intelligence Platforms Landscape, Q4 2024’.
- LTIMindtree Recognized as an ‘Enterprise Innovator’ in HFS Horizons: ‘AADA Quadfecta Services for the Generative Enterprise, 2024’.
- LTIMindtree Recognized as an ‘Enterprise Innovator’ in HFS Horizons: ‘IoT Service Providers, 2024’.
- LTIMindtree Recognized as a ‘Major Contender’ in Everest Group: ‘Microsoft Azure Services PEAK Matrix® Assessment 2024’.
- LTIMindtree Recognized as a ‘Major Contender’ in Everest Group: ‘Data and Analytics (D&A) Services PEAK Matrix® Assessment 2024’.
- LTIMindtree Recognized as a ‘Major Contender’ in Everest Group: ‘Quality Engineering (QE) Services for AI Applications and Systems PEAK Matrix® Assessment 2024’.
- LTIMindtree Recognized as a ‘Major Contender’ in Everest Group: ‘AWS Services PEAK Matrix® Assessment 2024’.
- LTIMindtree Recognized as a ‘Major Contender’ in Everest Group: ‘Google Cloud Services PEAK Matrix® Assessment 2024’.
- LTIMindtree Recognized as a ‘Major Contender’ in Everest Group: ‘Digital Transformation Consulting Services PEAK Matrix® Assessment 2024 – Europe’.
- LTIMindtree Recognized as a ‘Major Contender’ in Everest Group: ‘Digital Transformation Consulting Change Management PEAK Matrix® Assessment 2024’.
- LTIMindtree Recognized as a ‘Major Contender’ in Everest Group: ‘Artificial Intelligence and Generative AI Services PEAK Matrix® Assessment 2024’.
- LTIMindtree Recognized as a ‘Major Contender’ in Everest Group: ‘CyberSecurity Services Europe PEAK Matrix® Assessment 2024’.
- LTIMindtree Recognized as a ‘Major Contender’ in Everest Group: ‘Healthcare Provider Digital Services PEAK Matrix® Assessment 2024’.
- LTIMindtree Positioned as a ‘Visionary’ in 2024 Gartner® Magic Quadrant™ for Cloud ERP Services.
*GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product or service depicted in our research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About LTIMindtree
LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 86,000+ talented and entrepreneurial professionals across more than 40 countries, LTIMindtree — a Larsen & Toubro Group company — solves the most complex business challenges and delivers transformation at scale. For more information, please visit https://www.ltimindtree.com/.
Earnings Conference Call
| Universal Dial-in |
+91 22 6280 1157
| |
International Toll Free | USA
| : 18667462133
|
Replay of Conference Call |
Available after 1 hour from the call end time until Jan 17th, 2025
| |
Audio Webcast
| ||
Click here for your DiamondPass™
DiamondPass™ is a Premium Service that enables you to connect to your conference call without having to wait for an operator.
| ||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250116590919/en/
Contacts
Media Relations:shambhavi.revandkar@ltimindtree.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
www.businesswire.com
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Rigaku Launches XTRAIA MF-3400, a Measuring Instrument for Next-generation Semiconductors4.12.2025 17:00:00 EET | Press release
Rigaku Corporation, a global solution partner in X-ray analytical systems and a group company of Rigaku Holdings Corporation (headquarters: Akishima, Tokyo; CEO: Jun Kawakami; hereinafter “Rigaku”) has launched the XTRAIA MF-3400, an instrument used in semiconductor manufacturing processes to measure the thickness and composition of wafers. The XTRAIA MF-3400 will significantly enhance productivity in the rapidly growing semiconductor market by enabling high-accuracy evaluation of materials essential for mass production of next-generation memory chips and high-speed AI devices. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251204537975/en/ XTRAIA MF-3400 As generative AI and data centers continue to expand, demand is rising for high-performance, energy-efficient semiconductors capable of processing vast volumes of data. Consequently, semiconductor structures are becoming more complex, delicate, and three-dimensional, with a
Andersen Consulting Adds Collaborating Firm Codezilla4.12.2025 16:30:00 EET | Press release
Andersen Consulting strengthens its digital transformation capabilities through a Collaboration Agreement with Codezilla, a custom software development firm headquartered in Romania. Codezilla specializes in building tailored software products that solve business challenges through a multidisciplinary approach that combines software development with deep marketing expertise. With over 30 years in the market, the firm supports advertising agencies as their implementation and digital consulting resource, while also working with a diverse client base, including healthcare and medical device companies. Codezilla’s internal teams span engineering, design, and strategy, delivering omnichannel solutions for both regional and global clients. “We believe great software is the result of strong engineering and disciplined execution,” said Sebastian Doroftei, CEO of Codezilla. “Our collaboration with Andersen Consulting opens up new opportunities, allowing us to pair our design-led, development-fi
Energy Vault Secures Swiss Market Entry with Signed B-VAULT™ Deployment Contracts for Schindler and Energie Wettingen Projects, Launch of FlexGrid Product for Urban and Utility Applications4.12.2025 16:20:00 EET | Press release
Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault" or the "Company"), a global leader in grid-scale energy storage solutions, today announced its formal entry into the Swiss market with the launch of FlexGrid, a product designed for C&I customers based on a new configuration of its B-VAULT battery energy storage system (BESS) platform that is engineered for 2-25 MW industrial, commercial, and small-utility applications. The launch of FlexGrid is anchored by agreements with Schindler Group and Energie Wettingen AG, which together mark a key milestone in the Company’s strategy to enable distributed, flexible, and community-integrated energy storage infrastructure across Switzerland and Europe. “With the launch of B-VAULT FlexGrid, we are introducing a compact, modular, easy-to-install, and regulation-ready platform tailored for Europe’s evolving energy landscape,” said Gianmarco Zorloni, Director of Business Development at Energy Vault. “The combination of the Schindler and Wetting
I-care Group Continues Global Expansion with a European Training Arm4.12.2025 16:00:00 EET | Press release
I-care Group, the global leader in predictive maintenance and reliability solutions, announces the launch of Technical Associates of Europe (TAE), a new independent and certifying training organization headquartered in Mons, Belgium. This strategic initiative strengthens I-care’s global development and extends its professional training offerings in maintenance, reliability, lubrication and predictive-maintenance technologies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251204628319/en/ Building on the heritage of Technical Associates of Charlotte (TAC) — a U.S. training organization founded in 1961 and acquired by I-care Group in 2023 —Technical Associates of Europe represents a major expansion of I-care’s training ecosystem. “Technical Associates of Europe marks an important milestone in I-care’s journey,” said Fabrice Brion, CEO of I-care Group. “It reflects both the maturity of our organization and our ambition to cont
MSCI Launches Breakthrough Index Integrating Public Markets and Private Equity4.12.2025 16:00:00 EET | Press release
MSCI Inc. (NYSE: MSCI) launched the MSCI All Country Public + Private Equity Index,an innovative daily index that combines public markets and a broad private equity view within a single, coherent framework. The launch marks a major shift in how investors can assess total equity exposures and measure performance across their portfolio. With private markets increasingly integrated into investment portfolios, private equity is becoming a core component of total portfolio allocation, contributing to diversification, long-term return potential and exposure to segments of the economy not captured by public markets. Reflecting the evolving structure of investor portfolios, this index sets a new standard for tracking global equity performance across public and private markets. The index combines the flagship MSCI ACWI IMI, which represents the performance of the full opportunity set of publicly listed equities across developed and emerging markets and serves as the benchmark for approximately
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom