LTIMindtree delivers 2.6% QoQ USD revenue growth in CC

by Latest Updates

LTIMindtree , a global technology consulting and digital solutions company, announced its consolidated results for the first quarter ended June 30, 2024, as approved by its Board of Directors.

“While the environment remains unchanged, fiscal 25 started on a positive note for us with Q1FY25 revenue of USD 1.1 billion, registering a 2.5% QoQ and 3.5% YoY revenue growth in USD terms. Our Q1FY25 EBIT expanded to 15% and order inflow remained stable at USD 1.4 billion. Our top 3 industry verticals and our largest geography have performed well sequentially. This is attributed to a measured uptick in IT spending for critical initiatives with clients balancing innovation and fiscal prudence.” said Debashis Chatterjee, Chief Executive Officer and Managing Director.

 

About LTIMindtree

LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize 

growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. 

Powered by 81,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — solves the most complex business challenges and delivers transformation at scale. 

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L&T wins (Significant*) Order for Part Construction of Two Fleet Support Ships

by Today's Fables

Precision Engineering & Systems business vertical of Larsen & Toubro has won a prestigious order for part construction of two Fleet Support Ships (FSS) from M/s Hindustan Shipyard Limited (HSL), with Indian Navy being the end user of the vessels.

Indian Navy had signed a contract with HSL for design and construction of five FSS for the Navy in August 2023.

FSS are specialised naval vessels, which provide logistics and material support to the naval task force at sea. With more than 220 meter in length and approximately 45,000 tonne displacement, FSS would be amongst the largest vessels in the Indian Naval Fleet.

In line with GoI’s vision of “Aatmanirbhar Bharat”, these first-of-its kind vessels to be built in domestic Yards, will be concurrently constructed by both HHL and L&T shipyards to meet the challenging delivery timelines. This collaborative approach in shipbuilding will serve as a cornerstone for achieving strategic national objectives of rapidly enhancing the Indian Naval Fleet, while driving economic activity and technological advancement in India’s maritime domain.

In little over a decade from the receipt of L&T’s first defence shipbuilding order in March 2010, L&T has in-house designed, constructed and delivered more than 70 defence vessels exemplifying its ‘Make in India’ capabilities, with the remarkable achievement of delivering most of these vessels either ahead or on schedule.

L&T will construct the two Fleet Support Ships at its greenfield shipyard at Kattupalli, near Chennai on the east coast of India. It is India’s most modern shipyard, designed in-house and built to globally benchmarked technological practices.