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
Everen Declares $350 Million Dividend27.3.2025 17:30:00 EET | Press release
Everen Limited today announced a dividend of $350 million, affirming Everen’s commitment to delivering value to its shareholders. The decision by Everen’s Board of Directors was announced at the Company’s Annual General Meeting (AGM) in Bermuda on Thursday, March 20, 2025. The dividend is payable on or before September 30, 2025 to shareholders of record on March 20, 2025. Robert Foskey, President & CEO of the Everen Group, commented: “Everen continues to go from strength to strength with an exceptional year in 2024, both from a financial and operational point of view. We closed out the year with some of our best-ever results, driven by strong investment performance and modest incurred losses.” Addressing Everen’s shareholders, Mr. Foskey said: “For the twelfth year in a row, we are pleased to once again declare a substantial dividend. Cumulatively, over the past 12 years, we have returned over $3.8 billion in dividends to our shareholders. Everen’s consistent financial returns, coupled
Type One Energy Issues First Realistic, Unified Fusion Power Plant Design Basis27.3.2025 17:28:00 EET | Press release
Type One Energy announced today publication of the world’s first comprehensive, self-consistent, and robust physics basis, with conservative design margins, for a practical fusion pilot power plant. This physics basis is presented in a series of seven peer-reviewed scientific papers in a special issue of the prestigious Journal of Plasma Physics (JPP). They serve as the foundation for the company’s first Infinity Two stellarator fusion power plant project, which Type One Energy is developing for the Tennessee Valley Authority (TVA) utility in the U.S. The Infinity Two fusion pilot power plant physics design basis realistically considers, for the first time, the complex relationship between competing requirements for plasma performance, power plant startup, construction logistics, reliability, and economics utilizing actual power plant operating experience. This Infinity Two baseline physics solution makes use of the inherently favorable operating characteristics of highly optimized ste
Adtran wins two FTTH Innovation Awards for 50G PON and deep PON fiber monitoring27.3.2025 17:00:00 EET | Press release
Adtran today announced that it has won two FTTH Innovation Awards at the FTTH Conference 2025, recognizing its SDX 6405 optical line terminal (OLT) and ALM fiber monitoring platform as standout technologies supporting next-generation fiber networks. Organized by the FTTH Council Europe, the annual awards highlight innovations that accelerate fiber broadband rollouts while improving scalability, operational efficiency and user experience. Adtran received awards in two categories: ‘Active infrastructure – central network’ and ‘Installation equipment, tools, test & measurement instruments.’ This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250326874284/en/ Adtran’s SDX 6405 OLT and ALM fiber monitoring platform received Innovation Awards at the FTTH Conference 2025. “We’re honored to receive this recognition at the FTTH Conference. It’s a fantastic achievement for our team and a validation of the vision that’s guided our work: to
ees Europe: The Rise of Large-Scale Storage Systems – Driving Growth in the Storage Market and an Indispensable Pillar of the Energy Transition27.3.2025 16:52:00 EET | Press release
The energy transition has reached a crucial point. With increasing electricity generation from renewable sources, the need for effective grid stabilization solutions is growing. Large-scale battery storage systems play a key role. According to SolarPower Europe, the European market will grow by 30–40% annually, driven by the rise of large-scale storage. These systems will be central to discussions at ees Europe, the continent’s largest trade fair for batteries and energy storage, from 7 to 9 May 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250327880309/en/ Falling installation and operating costs as well as lower prices for batteries are boosting the large-scale storage boom. © Eco Stor GmbH Germany is experiencing rapid growth in large-scale battery storage. In early 2023, 1.4 GWh were installed, with projections of 61 GWh by 2027 and 136 GWh by 2045. A Fraunhofer study predicts 104 GWh by 2030 and 178 GWh by 2040.
Pacific Defense Selected for U.S. Army CMFF Program27.3.2025 16:47:00 EET | Press release
Pacific Defense, the leader in C5ISR Modular Open Suite of Standards (CMOSS) products and integrated mission systems, has been selected for the contract definition phase of the United States Army’s CMOSS Mounted Form Factor (CMFF) Mounted Common Infrastructure (MCI), an Other Transaction Authority (OTA) contract evaluation. This phase aligns contract work scope and deliverables, fostering innovation and successful program execution post contract award. Leading a team of select industry partners that includes Thales Defense & Security Inc., BAE Systems, Palantir, MAXISIQ, Regal Technology Partners, and STC, an Arcfield company, Pacific Defense is ready to deploy a comprehensive capability set to accelerate the U.S. Army's vision for CMFF. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250327094467/en/ Pacific Defense CMOSS Mounted Form Factor (CMFF) revolutionizes communications, command, and control across U.S. Army ground a
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