LTIMindtree Q2 result: L&T unit announces interim dividend of Rs. 20 share, net profit rises to ₹8,905.4 crore

LTI Mindtrees, a subsidiary of Larsen & Toubro, Wednesday declared an interim dividend along with its second-quarter (Q2) results for the financial year FY24.

The L&T unit announced an interim dividend of ₹20 per equity share of face value of Re 1 each. The record date for the same has been fixed on October 27, 2023, according to a stock exchange filing.

“The interim dividend will be paid within 30 days of declaration to those shareholders whose name will appear in the Register of Members or in the list of Beneficial Owners provided by the Depositories as on Friday, October 27, 2023, being the ‘Record Date’ fixed for the purpose, the statement read. 

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The company also reported a consolidated net profit of 1161.8 crore for the second quarter ending September 30, marking a sequential increase of 0.9%.

The IT company's revenue for the second quarter of the current financial year stood at ₹8,905.4 crore, as against ₹8,702.1 crore for the corresponding period a year ago.

Earlier today, the company announced the allotment of 2,000 equity shares of the company, each with a face value of ₹1.

The share allotment is consequent upon exercise of stock options granted under the ‘LTIMindtree Employee Stock Options Scheme 2015’, the company said in a filing.

Further, the board of the company also sanctioned the granting of 23,928 stock options to eligible company employees under the same 'LTIMindtree Employee Stock Options Scheme 2015.' 

LTIMindtree shares ended 1.1% weaker at ₹5,156.9 apiece on BSE ahead of the earnings announcement.