18 Oct 2024

LTIMindtree Stock Falls Despite 8% Growth in Q2FY25 Profit

LTIMindtree's stock is trading at Rs. 6009.35, experiencing a drop of 392.15 points or 6.13% from its previous close of Rs. 6401.50 on the BSE.

The stock opened at Rs. 6370.00 and reached a peak of Rs. 6374.95, while its lowest point so far has been Rs. 6005.25. A total of 17,184 shares have been traded thus far.

This BSE group 'A' stock, with a face value of Rs. 1, hit its 52-week high of Rs. 6575.00 on September 19, 2024, and a 52-week low of Rs. 4518.35 on June 4, 2024. Over the past week, it ranged between Rs. 6550.00 and Rs. 6004.00. The company's current market capitalization stands at Rs. 1,78,301.24 crore.

Promoters hold a 68.60% stake in the company, while institutional and non-institutional investors account for 22.28% and 9.12%, respectively.

In its financial performance, LTIMindtree recorded a 7.64% increase in standalone net profit, reaching Rs. 1,220.20 crore for Q2FY25, compared to Rs. 1,133.60 crore in the same quarter last year. The company's total income grew by 7.93% to Rs. 9,407.20 crore in Q2FY25, compared to Rs. 8,716.10 crore in Q2FY24.

On a consolidated basis, LTIMindtree's net profit rose by 7.68% to Rs. 1,251.60 crore for Q2FY25, up from Rs. 1,162.30 crore in the same period last year. The company's total income also increased by 7.55% to Rs. 9,731.80 crore for Q2FY25, compared to Rs. 9,048.60 crore in Q2FY24.