LTIMindtree Q4 FY24: Net profit down 1.2% at Rs 1,100 cr; missed estimates

IT services major LTIMindtree reported a net profit of Rs 1,100 crore for the fourth quarter of financial year 2023-24 (FY24), down 1.2 per cent year-on-year (Y-o-Y) from Rs 1,141 crore in the same quarter last financial year.

Revenue grew 2.3 per cent Y-o-Y for the fourth quarter to Rs 8,892.9 crore. Sequentially, revenue was down 1.4 per cent.

LTIMintree’s fourth quarter performance missed Bloomberg estimates. Bloomberg had estimated revenue to be at Rs 8,975.1 crore for the fourth quarter and profit to be at Rs 1,154 crore.