LTIMindtree Q3 net falls 11% to Rs 960 cr
The company reported a good performance with deal momentum staying strong
Mid-tier IT services firm, LTIMindtree on Monday posted 11 per cent drop in its net profit toRs 959.6 crore in third quarter of ongoing financial year owing to one time expense coming from compliance with the new labour code.
Without the one-time expense, the Bengaluru-headquartered company’s net profit was at Rs1,401 crore.
The IT firm’s revenue grew 11.6 per cent year-on-year basis to Rs 10,781 crore during the December quarter. In dollar terms, revenue was at $1.2 billion, which was a rise of 2.4 per cent sequentially in constant currency term.
Operating margin of the company was at 16.1 per cent, which was an expansion of 20 basis points in sequential term.
“Our strong Q3FY26 performance reflects the impact of our strategic AI pivot, continued success in large deals, and operational excellence, supported by our proactive efforts to build a more resilient and balanced portfolio. This marks our third consecutive quarter of 2 per cent plus growth, highlighting our disciplined execution, deep tech-domain expertise, and differentiated AI-led offerings. As we look forward, we remain focused on driving profitable growth and delivering tangible outcomes for our clients,” Venu Lambu, CEO of LTIMindtree said.
Deal wins of the IT firm remained strong during the third quarter. Order inflow during the December quarter was at $1.69 billion, which was almost at a similar level to the same period last fiscal year.
Among verticals, BFSI (banking, financial services & insurance) with 35.1 per cent share grew 2.3 per cent YoY basis. Manufacturing vertical witnessed a growth of 14.1 per cent, while consumer business posted a growth of 14.6 per cent in Q3FY26. However, technology vertical showed flat growth during this period.
North America as a geography posted a growth of 3.4 per cent during the third quarter, while Europe saw a growth of 13.8 per cent during this period. During this quarter, LTIMindtree’s total headcount was at 87,958, which was a rise of 1,511 over the previous quarter.
