The demand environment in BFSI (Banking, Financial Services & Insurance) is showing early signs of recovery, LTIMindtree said in a conference call on July 17. The revenue generated from the BFSI segment in Q1 FY25 grew over three percent QoQ to Rs 3,219.5 crore.
“We see BFSI customers starting to scale up high-priority programs with momentum across subsegments. Regulatory compliance continues to be a key spend area, followed by data plus AI, consumer experience, and vendor consolidation,” LTIMindtree said.
The Technology, Media, and Communications vertical’s revenue increased by 8.2 percent QoQ to Rs 2,341 crore. “Some key themes playing out here include business model transformation and platform operations,” LTIMindtree noted.
The company highlighted that BFSI and Tech tend to lead, based on investments already made in their data programs, as well as the significant ROI anticipated on some of the AI business use cases.
The Manufacturing and Resources vertical’s revenue grew by two percent QoQ to Rs 1,688.9 crore, with a continued focus on ERP (Enterprise Resource Planning) transformation, data modernization, and Industry 4.0 initiatives.
Revenue from the Consumer Business segment declined marginally by 1.1 percent to Rs 1,328.1 crore. The Healthcare, Life Sciences, and Public Services vertical saw a decline of 7.7 percent QoQ to Rs 565.1 crore.
LTIMindtree’s June quarter results, reported on July 17, showed a consolidated net profit increase of 3 percent QoQ to Rs 1,133.8 crore, while revenue rose 2.8 percent QoQ to Rs 9,142.6 crore. These results slightly exceeded Moneycontrol’s revenue estimate of Rs 9,030 crore, with net profit coming in marginally lower than the expected Rs 1,138 crore.
Shares of LTIMindtree closed 1.8 percent higher at Rs 5,574 on July 16. Indian financial markets were closed on July 17 for Muharram.
Read More: Click Here
