As per LTIMindtree Q4 results what were LTIMindtree Q4 revenue Figures?
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For Q4, LTIMindtree’s revenue was ₹8,892 crore, marking a YoY growth of 2.3%, but a QoQ decline of 1.4%.
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LTIMindtree Limited, recorded an operating margin dip of 50 basis points to 15.7%, falling short of the initial guidance of 17-18% for FY24. The company attributed this decline to reduced revenue from third-party partners.
Global technology consulting and digital solutions company, LTIMindtree announced its consolidated results for the fourth quarter and full year that ended on 31st March 2024. In the LTIMindtree Q4 result report released on 24th April, LTIMindtree, one of the largest IT services companies in India, revealed a net profit of ₹1100.7 crores for the fourth quarter spanning January to March 2024.
This 1.2% YoY decline was attributed to challenges in its banking division and ongoing merger issues within the company. The IT services company's total revenue reached ₹8,892 crore, marking a YoY growth of 2.3%, but experiencing a QoQ decline of 1.4%. The order inflow for the full year amounted to USD 5.6 billion, marking a 15.7% growth over FY23.
Explore: Ltimindtree Share Price
Here are the key highlights of the Q4 result:
Additional Read: 129 Indian Companies to Release Q4 Results
LTIMindtree's EBITDA, (Earnings before Interest, Tax, Depreciation, and Amortization) decreased by 5.6% QoQ to ₹1,308.7 crore for the quarter ending March 2024. The EBIT margin for Q4 was 14.72%, compared to 15.4% in the December 2023 quarter and 16.4% in the March 2023 quarter.
Additional Read: Quarterly Results
Metrics | FY24 | FY23 | Growth |
Revenue | 355,170 | 331,830 | 7% |
Other Income | 6,901 | 4,544 | |
Gross Margin % | 30.7% | 30.1% | - |
Direct Cost | 246,214 | 232,037 | 6.1% |
Gross Profit | 108,956 | 99,793 | 9.2% |
EBITDA | 63,874 | 61,077 | 4.6% |
EBITDA Margin % | 18.0% | 18.4% | - |
Forex Gains/(loss) | 118 | 1,025 | - |
PAT | 45,846 | 44,103 | 4% |
PAT - Net Profit Margin % | 12.9% | 13.3% | - |
Total Current Assets | 1,88,464 | 1,71,858 | - |
Total Equity & Liabilities | 2,75,630 | 2,34,961 | - |
Regarding revenue, LTIMindtree's performance closely matched analyst estimates for both FY24 and the March quarter. LTIMindtree, a Larsen & Toubro Group company, agrees that their assumptions weren't panning out as expected, especially during the middle of FY24. The company believes that this was due to various macroeconomic factors. While they have a strong margin plan in place, they’ll have to revisit their program when necessary.
Coming to employee count, LTIM experienced a decrease in employee count, dropping by 2,896 from 84,546 as of March 2023. The fall can be aligned with the trend seen in other large-cap IT companies. LTIMindtree however, expressed its intention to recruit over 500 freshers each quarter. Geographically, North America remains LTIM's primary revenue generator, constituting 73.8% of its FY24 revenue, followed by Europe with 14.6%.
Additional Read: Annual Results
LTIMindtree helps businesses in different industries rethink how they operate, speed up new ideas, and make the most of growth opportunities using digital tools. The company, powered by 81,000+ professionals in more than 30 countries, works closely with over 700 clients. As a digital transformation partner to its clients, LTIMindtree enables companies in both business and technology to create better advantages, improve customer experiences, and achieve better results in a changing world.
Results for the Fourth Quarter and Full Year Ended March 31, 2024
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For Q4, LTIMindtree’s revenue was ₹8,892 crore, marking a YoY growth of 2.3%, but a QoQ decline of 1.4%.
LTIMindtree's operating margin declined to 15.7% in Q4 from the initial guidance of 17-18% for FY24. This was attributed to a decrease in revenue from third-party partners.
The order inflow for the full year at USD 5.6 billion registered a 15.7% growth over FY23.
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