LTI Mindtree Q1 revenue rises 5.06%

18 Jul 2024 , 02:52 PM

LTI Mindtree declared their Q1 results on July 17, 2024, showcasing a 5.06% increase in revenue year-over-year. 

At the time of writing on July 18, 2024 at 2:39 pm shares of LTI Mindtree is currently trading at ₹5730 which is a 3.01% gain than the previous close. The stock has gained a total of 14% in the last one year, and 8.49% dip since the beginning of the year.

However, the profit witnessed a decline of 1.54% compared to the same quarter last year. In comparison to the previous quarter, the company experienced a 2.81% growth in revenue and a 3.08% increase in profit.

The selling, general & administrative expenses saw a 1.15% rise quarter-over-quarter and a 5.15% increase year-over-year. Operating income displayed a 4.75% increase from the previous quarter but decreased by 5.51% year-over-year. The Earnings Per Share (EPS) for Q1 stood at ₹38.23, showing a 1.6% decrease year-over-year.

With a market capitalization of ₹164686.2 Cr, LTI Mindtree’s 52-week high and low were recorded at ₹6442 and ₹4513.55 respectively. LTIMindtree Limited is an Indian multinational information technology services and consulting company based in Mumbai. A subsidiary of Larsen & Toubro, the company was incorporated in 1996 and employs more than 81,000 people.

The company was founded as L&T Information Technology Ltd in December 1996 as a subsidiary of Larsen & Toubro. During 2001–2002, the company’s name was changed from L&T Information Technology Ltd to L&T Infotech Ltd and in the same year, the company achieved the assessed level of Software Engineering Institute’s (SEI) Maturity Level 5.