1. Opening Hook
Just when IT services felt like watching paint dry, LTIMindtree walked in waving an “AI pivot” placard and a margin expansion chart.
Yes, revenue grew, deals flowed, and management sounded confident—almost too confident. The street heard “AI-led growth” and instantly forgot about forex losses, labor code shocks, and that awkward PAT dip (thanks, exceptional items).
But beneath the polished slides and Everest Group trophies lies a more interesting story: growth is real, margins are behaving, but execution risk hasn’t gone on vacation. This wasn’t a blowout quarter, nor was it a dud—it was a carefully curated performance with selective lighting.
Stick around. The deeper you go, the more the AI buzzwords start sweating under cross-examination.
2. At a Glance
- Revenue up 11.6% YoY – Growth arrived on time, no excuses needed.
- QoQ growth 3.7% – Third straight quarter above 2%, management flexes discipline.
- EBIT margin at 16.1% – Finally expanding, AI clearly found the cost center.
- PAT down QoQ (reported) – Labour codes said “surprise!”.
- Adjusted PAT up 29% YoY – Ignore the exceptionals, everything looks beautiful.
- Order inflow $1.69 bn – Deal machine humming, not screaming.
3. Management’s Key Commentary
“This marks our third consecutive quarter of 2%+ growth.”
(Translation: We finally found consistency, please clap. 😏)
“Our strategic AI pivot is delivering tangible outcomes.”
(Translation: AI is now in
