LTM profit dips marginally, revenue up 13.6% YoY

In the September quarter of fiscal year 2027, LTM (formerly LTIMindtree) experienced a slight dip in net profit, with profit edging down by 0.1% to Rs 1,398 crore, a sequential decline of 4.8% attributed to cost pressures and income loss during the second quarter of FY27. However, the company reported a significant growth in revenue by 13.6% year-on-year (YoY), reaching Rs 11,807.6 crore, driven by financial services, consumer, and production sectors in key regions of North America and Europe.

The Rest of the World region and technology & services vertical saw a sequential decline, impacting revenue growth to 1.7% from the previous quarter.

LTM's CEO and managing director, Venu Lambu, noted that revenue from enterprise AI and business AI combined grew by 47% YoY, highlighting the company's tech-domain convergence approach to AI adoption. This growth also resulted in securing a $100 million-plus client in the financial services sector. On a dollar basis, revenue increased to $1.24 billion, up 5.1% YoY and 1.1% quarter-over-quarter (QoQ) in constant currency terms, excluding foreign exchange fluctuations.

The Mumbai-based IT services company declared an interim dividend of Rs 25 per equity share, with the record date set for October 23 and the dividend to be paid within 30 days of declaration. Prior to the results announcement, LTM shares closed higher by 3.18% at Rs 4,385 per share on the BSE. Operating margins improved to 15.6% in the quarter, a slight increase from 15.5% in June and 30 basis points lower than the previous year's 15.9%.

While revenue declined across the top 40, 20, 10, and 5 clients, the company gained one client in the $100 million-plus category.

LTM added 949 employees between July and September, bringing the total headcount to 88,835, with attrition remaining stable at 13.3%.