L&T Group company LTIMindtree on Thursday reported 11.3 % sequential rise in its net profit to Rs 1,114 crore for the March quarter. The net profit for the preceding quarter was Rs 1,000 crore.
Revenue for the March quarter grew 0.8% on a sequential basis to Rs 8,691 crore from Rs 8,620 crore in the Dec quarter. For the full year, revenue was Rs 33,183 crore and net profit Rs 4,410.3 crore.
CEO & MD Debashis Chatterjee said, “Our order inflow for the quarter came in at $1.35 billion, helping us close the full year order inflow at $4.87 billion. We added 31 new clients for Q4 and increased our count of $50 million-plus customers by 2 to 13. Our full year operating margin was at 16.2% and the basic EPS was at Rs 149.1.”
Attrition fell to 20.2% in the March quarter from 22.3% in the previous quarter. The board of directors has recommended a final dividend of Rs 40 per equity share of par value Rs 1 each for FY23.
Chatterjee added, “Client requirements have changed over the last quarter, and we are now meeting the new requirements to deliver cost savings which are being directed to fund in-flight transformation programs.”
Recently, the Bengaluru headquartered company was selected as the key digital transformation partner by Currys, a UK-based retailer of technology products and services, in a multi-million dollar deal.