Q4 results: LTIMindtree declares final dividend of ₹45 per equity share

LTIMindtree Ltd on Wednesday declared a final dividend of ₹45 per equity share for the financial year ended March 31, 2024.

In a stock exchange filing, LTIMindtree said: “Board of Directors have recommended a final dividend of Rs. 45/- per equity share of Re. 1 each, for approval of shareholders at the ensuing Annual General Meeting (‘AGM’).”

“Subject to approval of shareholders, the final dividend will be paid within 10 days from conclusion of the AGM. Record Date for the purpose of determining shareholders eligible to receive dividend and the date of AGM shall be intimated in due course,” the company stated in the exchange filing.

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Q4 financial results

LTIMindtree, the sixth-largest software company in India, on Wednesday announced its financial results for the fourth quarter (Q4) of the fiscal year 2024 (FY24 ).

The Mumbai-based IT company said its Q4 FY24 net profit declined 1.2 per cent to ₹11,007 crore from ₹11,141 crore in Q4 FY23. The fall in profit comes amid weakness in its banking vertical and persisting merger issues at the company.

However, its revenue from operations rose 2.3 per cent to ₹88,929 crore in January-March 2024 from  ₹86,910 crore in the same period a year ago. 

Its revenue from banking, financial services and insurance (BFSI) vertical fell 6.6 per cent year-on-year.

Total expenses in the fourth quarter rose to ₹76,522 crore from ₹73,132 crore a year ago.

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“As the market dynamics evolve, we are excited to be a part of innovations, partnerships, and initiatives that our clients will embark on in fiscal 2025,” said Debashis Chatterjee, chief executive officer of LTIMindtree. 

For the full fiscal year 2024, its revenue surged 4.4 per cent in terms of constant currency, as compared to a 19.9 per cent rise in fiscal year 2023. 

Shares of LTIMindtree closed at ₹4,732.55, 0.23 per cent higher on the BSE, on Wednesday.