LTM reported a mixed September quarter for fiscal year 2027, with profit falling 0.1% to Rs 1,398 crore. Revenue grew 13.6% to Rs 11,807.6 crore, supported by financial services. CEO Venu Lambu said, "We are well positioned for stronger growth ahead." The company also declared an interim dividend of Rs 25.
Revenue recorded healthy growth on a year-on-year (YoY) basis by 13.6% to Rs 11,807.6 crore supported by financial services, consumer and production sector in key regions of North America and Europe. Rest of the World region and technology & services vertical showed a sequential degrowth, which impacted revenue to grow by 1.7% from the June quarter.
LTM (formerly LTIMindtree) reported a mixed performance for the September quarter of ongoing fiscal year 2027, with net profit remaining almost flat edging down by 0.1% and falling by 4.8% sequentially to Rs 1,398 crore impacted by cost pressures and income loss during the second quarter of FY27.
Revenue recorded healthy growth on a year-on-year (YoY) basis by 13.6% to Rs 11,807.6 crore supported by financial services, consumer and production sector in key regions of North America and Europe. Rest of the World region and technology & services vertical showed a sequential degrowth, which impacted revenue to grow by 1.7% from the June quarter.
"The revenue across enterprise AI and business AI together grew 47% YoY. This is a testament to our tech - domain convergence approach to AI adoption, which also led to the addition of a Financial Services client to our $100 million - plus category. We are well positioned for stronger growth ahead," said CEO and managing director Venu Lambu in a statement.
In dollar terms, revenue grew to $1.24 billion revenue, up 5.1% YoY and 1.1% QoQ in constant currency terms, which excludes foreign exchange fluctuations.
The Mumbai-based IT services company's board also declared an interim dividend of Rs 25 per equity share. The record date for determining eligible shareholders is October 23 and the dividend will be paid within 30 days of declaration.
Ahead of the results announcement, LTM shares closed higher by 3.18% to Rs 4,385 per share on the BSE.
Margins and deals
Operating margin for the quarter improved to 15.6% from June quarter's 15.5% while declined by 30 basis points from a year ago margin at 15.9%.
While revenue showed a reduction across its top 40, 20, 10 and 5 clients, it gained one client in the $100 million plus category.
On the deals front, its order bookings fell both on-year (from 1.59 billion) and sequential basis (from 1.68 billion) to $1.26 billion.
LTM also added 949 employees between July to September to end total headcount at 88,835 with attrition remaining stable at 13.3%.