The Indian stock markets resumed trading on Thursday after a gap of a day when the markets went off on account of Muharram on Wednesday, July 17. Although the markets were closed, not all was quiet in the world of business as the earnings season continued and the results continued to pour in.
Company in Green Despite Profit Fall
One of the major companies to release there was the Mumbai-based LTIMindtree.
The tech company's earnings for the first quarter were not up to par, according to many. According to the exchange filing from the company, the company accrued a net profit of Rs 1,134 crore in Q1 of FY25 or the quarter that ended on June 30.
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In addition, the Nifty IT index is also trading in green, with a gain of 1.03 per cent or 403.10 points, reaching 39,544.60 in the early hours of the day's trade. |
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This figure fell pale compared to the numbers in the previous year's quarter or Q1 of FY24, when LTIM gained a net profit (consolidated) of Rs 1,152 crore, which marked a 1.5 per cent drop in its overall profit.
This, according to observers, was below the estimates of Rs 1,150 crore.
In this quarter, the company accumulated a total income of Rs 9,369.7 crore, compared to Rs 9,100.5 crore. |
In this quarter, the company accumulated a total income of Rs 9,369.7 crore, compared to Rs 9,100.5 crore.
In addition, the total number of shareholders of the company also dropped to 12,554, compared to 12,605 in the previous quarter.
The company shares opened on Thursday, retaining momentum as the shares scaled over 2 per cent. At 10:49 IST, LTIMindtree shares gained 2.88 per cent or Rs 159.95, jumping to Rs 5,722.30 per share. |
LTIM Shares Rise With Nifty IT
The company's shares closed in green on Tuesday, July 16. The shares that opened at Rs 5,490.10 hit the high of Rs 5,577.80, hitting the low of Rs 5,438.30, before closing at Rs 5,562.35 per shares. The shares gained Rs 84.20 or 1.54 per cent in the bargain.
The company shares opened on Thursday, retaining momentum as the shares scaled over 2 per cent.
At 10:49 IST, LTIMindtree shares gained 2.88 per cent or Rs 159.95, jumping to Rs 5,722.30 per share.
In addition, the Nifty IT index is also trading in green, with a gain of 1.03 per cent or 403.10 points, reaching 39,544.60 in the early hours of the day's trade.
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