LTIMindtree's Q1 revenues expected to be flat, but margin may rise: CNBC-TV18 Poll
LTIMindtree is set to announce its earnings for Q1FY24 on Monday, July 17th. According to a CNBC-TV18 poll, revenues for this quarter are expected to remain relatively unchanged at Rs 1,063 crore compared to Rs 1,058 crore in the previous quarter.
LTIMindtree, a global company specialising in technology consulting and digital solutions, is set to announce its earnings for the April to June quarter (Q1FY24) on Monday (July 17).
According to a CNBC-TV18 Poll, revenues for this quarter are expected to remain relatively unchanged at Rs 1,063 crore compared to Rs 1,058 crore in the previous quarter.
While the company had previously mentioned a slow start to FY24, it had maintained its guidance for double-digit revenue growth for the full year.
Margin improvements are anticipated for the quarter ending June 2023, with a projected increase of 16.7 percent from 16.35 percent in the previous quarter. The company earlier provided guidance for margins between 17-18 percent once the merger-related costs of LTI Mindtree are resolved.
The profit after tax (PAT) is predicted to grow by 7.2 percent to reach Rs 1,194 crore, compared to Rs 1,114 crore in the previous quarter.
The company's ability to maintain its double-digit revenue growth guidance, despite a relatively flat start to the financial year, will be of significant interest.
Over the past six months, LTIMindtree's stock has risen by 19 percent. The company also replaced HDFC in the benchmark Nifty 50 index following the mega-merger of the mortgage-lending pioneer with India's largest private lender HDFC Bank.
First Published: Jul 14, 2023 6:54 PM IST
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