LTIMindtree misses estimates, profit down 6%

LTIMindtree reported a sequential decline in revenue and net profit during the quarter ended March and missed the Street expectations due to extended furloughs and delay in deal ramp-up. However, the management is optimistic about bouncing back to profit in the first quarter of financial year 2025.

“If I talk about Q4 specifically, we had already called out that we had some higher than usual pass-throughs in Q3, and the absence of those pass-throughs definitely means that we had a lower revenue coming in Q4,” Debashis Chatterjee, CEO of LTIMindtree said in a post-earnings press conference.