LTIMindtree sees growth flat in Q4

Bengaluru: LTIMindtree has reported a revenue of $4.1 billion for the financial year 2022-23, up 19.9% in constant currency terms. In the March quarter, the revenue stood at a little over $1 billion, a 0.7% growth in sequential terms.
Order inflow was $1.35 billion in the quarter. The company closed the year with deals worth $4.9 billion. The margin for the March quarter was at 18.5%, up sequentially from 16%.
The company’s CEO & MD Debashis Chatterjee said that there will be pressure even in the first quarter of financial year 2023-24. “By the end of the year, LTIMindtree should be able to register double-digit growth. The only concern is that the decision-making process for clients is taking time,” Chatterjee said.
Most industry segments grew just marginally. Hi-tech and healthcare segments witnessed a dip.
The headcount for the quarter came down by around 2,000 employees, which the company says was because there was a hiring freeze due to the merger of LTI and Mindtree. The attrition has moderated from 22.3% in the December quarter to 20.2% in the March quarter.