The software services unit of Larsen & Toubro posted a net profit of Rs 1,254 crore for the fiscal first quarter, when it also saw a marginally better performance at its key banking, financial services, and insurance (BFSI) vertical compared with the previous quarter. Revenue increased 7.6% on year to Rs 9,840 crore.
Operating margin (earnings margin before interest and tax) at 14.3% expanded half a percentage point sequentially.
“We had a promising start to the year delivering broad-based growth, expanding margins and making significant progress on our strategic priorities,” said Venu Lambu, who took charge as the company’s chief executive in May.
The macroeconomic environment, he said, remains challenging.
The company said it paid a final dividend of Rs 45 per share for the financial year ended March 31, 2025.
LTIMindtree shares settled 2.55% lower at Rs 5,190.95 on the BSE Thursday.
The North America and Europe markets grew sequentially at 1.8% and 9.7%, respectively, for the company. Revenue from both markets had shrunk in the previous quarter.
The consumer business and healthcare, life sciences and public services business grew 6.2% and 4.8% in April-June, respectively, after posting contraction in the fourth quarter of last fiscal year. The BFSI vertical grew 1.6% sequentially and 10.6% year-on-year.
LTIMindtree’s order book for the April-June period increased 17% year-on-year to $1.63 billion; it was $1.60 billion the previous quarter.
Employee count at 83,889 fell by 418 over the previous quarter. Attrition over the last 12 months was 14.4%, while utilisation was 88.1%.
