This large-cap IT stock having strong sales growth partners with Metasphere; A multibagger stock with more than 700 per cent returns
The stock is trading at Rs 5,536 levels and has given a multibagger returns of 731.34 per cent in last 8 years
LTIMindtree and Metasphere have partnered to develop a new smart sewers management platform. The platform will help customers reduce costs and improve performance by providing real-time network visibility and wastewater monitoring.
Metasphere is a wastewater application specialist that provides smart network management solutions to the global utility industry. LTIMindtree is a global technology consulting and digital solutions company.
The new platform will be based on cutting-edge technology and will offer intelligent, innovative, all-in-one wastewater application solutions. These solutions will provide full network visibility, performance and forecasting that reduce telemetry ownership cost for customers to manage time-critical remote assets and system.
LTIMindtree's consolidated net profit for the second quarter of the current financial year (Q2FY24) decreased by 2.24 per cent to Rs 1,162.3 crore, compared to Rs 1,189 crore for the corresponding quarter of the previous year. This was despite an 8.23 percent increase in revenue from operations to Rs 8,905.4 crore. On a quarter-on-quarter basis, the net profit increased by 0.86 per cent, while revenue from operations was up 2.33 per cent. The total income for Q2FY24 came in at Rs 9,048.6 crore, registering a rise of 7.86 per cent year-on-year and 2.43 per cent q-o-q.
The company has a history of delivering strong results, with a 31.7 per cent compound annual growth rate (CAGR) in profits over the past five years. Additionally, the company has a strong return on equity (ROE) track record, with an average ROE of 31.6 per cent over the past three years. The company has also been maintaining a healthy dividend payout of 39.2 per cent.
In today's day trading session, LTIMindtree Ltd exhibited a slight decline, opening at Rs 5600 and experiencing fluctuations throughout the day. The stock reached a high of Rs 5615.95 but encountered a low of Rs 5515.6 before settling at a current market price (CMP) of Rs 5535. Closing below, the previous day's mark of Rs 5588.5, it was down by 0.96 per cent.
About company
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.
Disclaimer: The article is for informational purposes only and not investment advice.
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