{"id":157827,"date":"2024-01-18T10:21:23","date_gmt":"2024-01-18T15:21:23","guid":{"rendered":"https:\/\/44.250.171.167\/?p=157827"},"modified":"2024-01-18T10:21:25","modified_gmt":"2024-01-18T15:21:25","slug":"ltimindtree-ltd-q3-fy24-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/ltimindtree-ltd-q3-fy24-earnings-conference-call-insights\/","title":{"rendered":"LTIMindtree Ltd Q3 FY24 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from LTIMindtree Ltd (LTIM) Q3 FY24 Earnings Concall<\/strong><\/p>\n<ul>\n<li><strong>Financial Performance<\/strong>\n<ul>\n<li>Delivered resilient Q3 performance despite higher than expected furloughs and unchanged macro environment.<\/li>\n<li>Q3 revenues at $1.08 billion, up 3.5% YoY in USD terms and 3.1% in constant currency.<\/li>\n<li>Sequential revenue growth 0.8% in USD and 0.7% in constant currency reflecting broad furlough impact.<\/li>\n<li>EBIT margin at 15.4% and net profit margin at 13%.<\/li>\n<li>Strong order inflow of $1.5 billion, up 21% YoY despite unchanged cautionary environment.<\/li>\n<li>9-month FY24 order inflow at $4.2 billion, up 19% YoY reflecting strength of H2 experience capabilities.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Industry Vertical Performance<\/strong>\n<ul>\n<li>BFSI vertical declined 1.4% YoY due to higher furloughs and cautionary approach to new spend.<\/li>\n<li>High tech, media and entertainment grew 0.3% YoY despite higher than expected furloughs.<\/li>\n<li>Manufacturing and resources strong growth of 20.1% YoY due to seasonal higher pass-through.<\/li>\n<li>Secured significant transformation and supply consolidation deal in energy and utilities vertical.<\/li>\n<li>Retail, CPG, travel, transportation and hospitality grew 0.6% YoY.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Outlook<\/strong>\n<ul>\n<li>Expect Q4 performance to remain similar to Q3.<\/li>\n<li>Strong order inflow and pipeline set stage for medium term growth.<\/li>\n<li>Margin optimization continues but 17-18% exit margin pushed out.<\/li>\n<li>Some furloughs will return but not all furloughs will come back in Q4.<\/li>\n<li>Environment remains cautious, delays in client decision making to persist.<\/li>\n<li>Growth recovery when it comes expected to be broad-based across industries, geos.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Sales Activity &amp; Pipeline<\/strong>\n<ul>\n<li>$4.6 billion overall sales pipeline, up 30% versus last year.<\/li>\n<li>Participating in 30+ advised deals, seen as alternative to larger players.<\/li>\n<li>Seeing strong growth in ERP service line with demand for core modernization.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Margin and Growth Outlook<\/strong>\n<ul>\n<li>Overall margin program and approach not changing but modifying targets.<\/li>\n<li>Targets being deferred by a few quarters to continue investing back in business.<\/li>\n<li>Utilization already high, don&#8217;t want to increase further in unhealthy way.<\/li>\n<li>Will get back to 17-18% exit margin target over longer term after some quarters.<\/li>\n<li>Uncertain about growth outlook and lower H2 guidance.<\/li>\n<li>Need sufficient bench to ramp up deals being closed. Utilization higher than comfort zone, want to bring it down.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Leverage for Margin Improvement<\/strong>\n<ul>\n<li>Gross margin improvement in low margin accounts.<\/li>\n<li>Pyramid rationalization by adding freshers.<\/li>\n<li>Reducing average cost of resources.<\/li>\n<li>Multi-year deals allow better cost management.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Cash Allocation Policy<\/strong>\n<ul>\n<li>Priority is sustaining momentum and building cash balance.<\/li>\n<li>Evaluating candidates for M&amp;A at the right time and opportunity.<\/li>\n<li>Payout policy based on profitability, not just cash balance.<\/li>\n<li>Aim is to generate higher cash flow returns for better payout.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from LTIMindtree Ltd (LTIM) Q3 FY24 Earnings Concall Financial Performance Delivered resilient Q3 performance despite higher than expected furloughs and unchanged macro environment. Q3 revenues at $1.08 billion, up 3.5% YoY in USD terms and 3.1% in constant currency. Sequential revenue growth 0.8% in USD and 0.7% in constant currency reflecting broad furlough [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":154818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,8],"tags":[8588,10169,5075,9050],"class_list":["post-157827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-technology-stocks","tag-consulting","tag-earnings","tag-it-services","tag-technology-services"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":157726,"url":"https:\/\/alphastreet.com\/india\/hcl-technologies-limited-q3-fy24-earnings-conference-call-insights\/","url_meta":{"origin":157827,"position":0},"title":"HCL Technologies Limited Q3 FY24 Earnings Conference Call Insights","author":"Praveen","date":"January 16, 2024","format":false,"excerpt":"Key highlights from HCL Technologies Limited (HCLTECH) Q3 FY24 Earnings Concall Revenue Growth and Margins Revenue grew 6% sequentially and 4.3% YonY in constant currency, the highest growth since Q3 2021. 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Operating margin was 24.3%, up 110 bps sequentially due to higher utilization and\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":170056,"url":"https:\/\/alphastreet.com\/india\/ltimindtree-q1-fy26-earnings-results\/","url_meta":{"origin":157827,"position":2},"title":"LTIMindtree Q1 FY26 Earnings Results","author":"Chirag Gupta","date":"August 12, 2025","format":false,"excerpt":"Larsen & Toubro Infotech Ltd offers extensive range of IT services like application development, maintenance and outsourcing, enterprise solutions, infrastructure management services, testing, digital solutions, and platform-based solutions to the clients in diverse industries. 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