LTIMindtree Q3FY26 Results: Net profit falls 10.5% to Rs 971 crore; revenue rises 11.6%—Check headcount and attrition rate

LTIMindtree on Monday reported steady growth in the third quarter of fiscal 2026, supported by strong deal momentum and demand across select business verticals.

The company’s board approved the results for the quarter ended December 31, 2025.

Revenue and Profit Performance

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LTI Mindtree reported a revenue from operations of Rs 10,781 crore in the latest quarter, up from Rs 9,661 crore in the same period last year, a rise of 11.6 per cent. Total income increased to Rs 11,008 crore from Rs 9,873 crore, up 11.5 per cent.

Total expenses rose to Rs 9,113 crore from Rs 8,401 crore, an increase of 8.5 per cent. Net profit declined to Rs 971 crore from Rs 1,085 crore, down 10.5 per cent year-on-year.

LTIMindtree reported a consolidated revenue of Rs 10,781 crore for the third quarter of fiscal 2026, up 11.6 per cent from Rs 9,661 crore in the same quarter last year and 3.7 per cent from Rs 10,394 crore in the previous quarter.

In US dollar terms, revenue rose to $1,208 million from $1,138.7 million in Q3FY25, showing a year-on-year growth of 6.1 per cent. Revenue in constant currency terms grew 5.2 per cent compared with the same period last year.

Operating profit, measured by EBIT, increased to Rs 1,737 crore from Rs 1,537 crore in Q3FY25. EBIT margin expanded to 16.1 per cent from 13.8 per cent a year ago. EBITDA margin remained at 18.6 per cent, while gross margin rose to 29.4 per cent from 28.8 per cent in Q3FY25.

Profit after tax rose 29 per cent to Rs 1,401 crore from Rs 1,085 crore in the year-ago quarter. The results exclude a one-time exceptional impact of Rs 59 crore due to the implementation of the New Labour Codes. Including this impact, net profit would have been Rs 960 crore.

Earnings per share (EPS) increased, with basic EPS at Rs 47.7 from Rs 36.7 and diluted EPS at Rs 47.6 from Rs 36.6. Return on equity (ROE) declined slightly to 21 per cent from 23.7 per cent in Q3FY25.

Zee Business Research had earlier projected revenue at Rs 10,732 crore and profit at Rs 1,425 crore. The actual results broadly met these estimates, reflecting steady growth.

Segment and Deal Highlights

Segment-wise, the banking, financial services and insurance (BFSI) vertical remained the largest contributor to revenue, though some softness was observed in the sector. Manufacturing and consumer business segments posted healthy growth, while retail verticals showed improved traction.

Total contract value (TCV) for the quarter was estimated at $1.4 billion to $1.5 billion, supported by multi-year deals with global companies in insurance, manufacturing, financial services, technology, and consumer goods, including significant AI-led services.

Workforce and Attrition

On the workforce front, LTIMindtree added 1,511 employees during the quarter, taking total headcount to 87,958. This includes 82,911 software professionals and 5,047 staff in sales and support roles.

The trailing twelve-month attrition rate was 13.8 per cent, and utilisation, excluding trainees, was 86.9 per cent. Women employees accounted for 30.9 per cent of the workforce.

Geography, Cash and CEO Comments

Geographically, North America contributed 72.8 per cent of revenue, Europe 14.8 per cent, and the rest of the world 12.4 per cent.

Revenue by industry showed BFSI at 35.1 per cent, manufacturing and resources at 20.8 per cent, consumer business at 15.4 per cent, technology, media and communications at 22.2 per cent, and healthcare, life sciences and public services at 6.5 per cent.

The company’s cash and investments stood at Rs 14,558 crore as of December 31, 2025. Free cash flow for the quarter was Rs 1,083 crore. Total assets were Rs 34,288 crore, with equity of Rs 23,767 crore and liabilities of Rs 10,522 crore.

Commenting on the results, CEO Venu Lambu said, “Our Q3 performance reflects the impact of our strategic AI pivot, strong deal wins, and operational excellence. This marks our third consecutive quarter of 2 per cent plus growth, highlighting disciplined execution and differentiated AI-led offerings. We remain focused on profitable growth and delivering value to our clients.”

The company’s standalone results showed total income of Rs 10,547 crore and net profit of Rs 928 crore, largely in line with consolidated numbers.