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Business News/ Companies / Company Results/  Q4 results: LTIMindtree declares final dividend of 45 per equity share
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Q4 results: LTIMindtree declares final dividend of ₹45 per equity share

LTIMindtree Q4 results: The Mumbai-based IT company said its Q4 FY24 net profit declined 1.2 per cent to ₹11,007 crore from ₹11,141 crore in Q4 FY23.

Shares of LTIMindtree closed at ₹4,732.55, 0.23 per cent higher, on the BSE on Wednesday. (REUTERS)Premium
Shares of LTIMindtree closed at 4,732.55, 0.23 per cent higher, on the BSE on Wednesday. (REUTERS)

LTIMindtree Ltd on Wednesday declared a final dividend of 45 per equity share for the financial year ended March 31, 2024.

In a stock exchange filing, LTIMindtree said: “Board of Directors have recommended a final dividend of Rs. 45/- per equity share of Re. 1 each, for approval of shareholders at the ensuing Annual General Meeting (‘AGM’)."

“Subject to approval of shareholders, the final dividend will be paid within 10 days from conclusion of the AGM. Record Date for the purpose of determining shareholders eligible to receive dividend and the date of AGM shall be intimated in due course," the company stated in the exchange filing.

ALSO READ: LTIMindtree reports drop in quarterly revenue, margin falls further

Q4 financial results

LTIMindtree, the sixth-largest software company in India, on Wednesday announced its financial results for the fourth quarter (Q4) of the fiscal year 2024 (FY24 ).

The Mumbai-based IT company said its Q4 FY24 net profit declined 1.2 per cent to 11,007 crore from 11,141 crore in Q4 FY23. The fall in profit comes amid weakness in its banking vertical and persisting merger issues at the company.

However, its revenue from operations rose 2.3 per cent to 88,929 crore in January-March 2024 from  86,910 crore in the same period a year ago. 

Its revenue from banking, financial services and insurance (BFSI) vertical fell 6.6 per cent year-on-year.

Total expenses in the fourth quarter rose to 76,522 crore from 73,132 crore a year ago.

ALSO READ: Post merger, LTIMindtree honchos still exiting raises eyebrows

“As the market dynamics evolve, we are excited to be a part of innovations, partnerships, and initiatives that our clients will embark on in fiscal 2025," said Debashis Chatterjee, chief executive officer of LTIMindtree. 

For the full fiscal year 2024, its revenue surged 4.4 per cent in terms of constant currency, as compared to a 19.9 per cent rise in fiscal year 2023. 

Shares of LTIMindtree closed at 4,732.55, 0.23 per cent higher on the BSE, on Wednesday. 

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Published: 24 Apr 2024, 09:31 PM IST
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