LTIMindtree, a global technology consulting and digital solutions company, recently reported their financial results for the fourth quarter and full year ended March 31, 2023. The company reported a 19.9 percent year-over-year growth in constant currency on their consolidated basis. CEO and Managing Director of LTIMindtree, Debashis Chatterjee, announced the record-breaking performance and expressed that the company is “ready to exploit the synergies” they have acquired while they move to unified systems and processes.
There were some strong financial highlights to report. The fourth quarter revenue came in at an impressive USD 1.06 billion, which is up 13.5 percent from previous year in constant currency and 11.9 percent reported in USD. Their order inflow for the quarter was USD 1.35 billion, boosting their full-year order inflow up to USD 4.87 billion. In terms of clients, LTIMindtree added 31 new customers, with 2 more added USD 50 million-plus customers, bringing their total up to 13. Their operating margin was also recorded at 16.2 percent and the basic EPS was reported as INR 149.1.
Some impressive deal wins were reported as well, such as being chosen by UK-based retailer Currys, as a key digital transformation partner. Other partners were onsemi, a leader in intelligent power and image sensing technologies; Hellenic Bank, a leading European financial institution; a North American manufacturer of high-performance building solutions; a global leader of engineered products and services; an American insurance company; and an American airline. Many recognitions were awarded to LTIMindtree as well, including being part of the Forrester Customer Analytics Services Providers Landscape, and recognized as a leader and star performer in the Everest Group’s Application and Digital Services in P&C Insurance.
The Board of Directors of LTIMindtree have recommended a final dividend of Rs 40 per equity share of par value Rs 1 each for the financial year ended March 31, 2023.
Debashis Chatterjee is the Chief Executive Officer and Managing Director of LTIMindtree. Prior to joining LTIMindtree, Chatterjee held various positions with Tata Consultancy Services and Accenture. He holds both a Bachelor of Science and Master of Science in Electrical Engineering and has over 24 years of industry experience. He has an excellent track record of leading large organizations through the growth and expansion process, and has been instrumental in the success of LTIMindtree in recent years.
With their impressive revenue growth and broad-based performance, LTIMindtree is well positioned to continue to deliver profitable growth in FY24. By leveraging their superior technology capabilities and client experience, LTIMindtree has proven to be a key partner in digital transformation for many, and their success continues to show that innovation and collaboration are the way of the future.
