The IT services company reported a consolidated net profit of Rs 1,151 crore for the quarter ended June, which was higher by 4%, compared with Rs 1,106 crore in the same quarter last year. Revenue from operations during the first quarter rose 14% year-on-year (YoY) to Rs 8,702 crore. Both profit and revenue were slightly below the estimates. ET Now poll saw the profit figure around Rs 1,194 crore, while revenue was seen at Rs 8,770 crore.
LTIMindtree reported a 4.1 per cent year-on-year (YoY) rise in net profit at Rs 1,152.30 crore for the June quarter compared with Rs 1,106.50 crore in the corresponding quarter last year.
Both profit and revenue were slightly below the estimates. ET Now poll saw the profit figure around Rs 1194 crore, while revenue was seen at Rs 8,770 crore.
The company, which recently joined the Nifty club, is seen reporting a nearly 1% sequential rise in consolidated net revenue for the quarter to Rs 8,757 crore, according to the average of estimates given by 13 brokerages.However, the net profit growth will be much better than its peers given a better operational performance. The bottomline is seen rising 6.5% to Rs 1,186.40 crore
LTIMindtree: For Q1, all eyes will be on vendor consolidation deal win rate, margin efficiency in high wage hike scenario and demand outlook in Hi-Tech vertical, Elara Securities said in a note.