The shares of global technology consulting and digital solutions providers gained up to 2.4 percent after the company announced the integration of its subsidiaries Syncordis and Nielsen+partner to form a banking Transformation practice.
With a market capitalization of Rs 1.75 lakh crore, the shares of LTIMindtree Ltd were trading at Rs Rs 5,926.90 per share, increasing around 1.02 percent as compared to the previous closing price of Rs 5,867.30 apiece.
According to the exchange filing, LTIMindtree Ltd announced the integration of its subsidiaries Syncordis and Nielsen+partner to form a banking Transformation practice. The company’s BTP is uniquely positioned to deliver end-to-end consulting, digital, and IT services, Leveraging commercial off-the-shelf products.
Furthermore, In December 2017, LTIMindtree bought Syncordis, and in January 2019, Nielsen+Partner. LTIMindtree hopes to combine the complementary skills of two strong firms with a track record of achieving industry-leading growth through this combination.
LTIMindtree’s BTP will provide clients with greatly expanded product/platform capabilities, as well as a broader collection of end-to-end, core-to-consumer products, bolstered by deeper industry connections and a highly trained staff pool.
LTIMindtree Ltd’s revenue increased 8 percent from Rs. 8,228 crores in Q2FY23 to Rs 8,905 crores in Q2FY24. Further, During the same period, Net Profit decreased by 2 percent from Rs 1,189 crores to Rs 1,162 crores.
LTIMindtree was chosen as a major digital transformation partner by one of the world’s top semiconductor manufacturers to update its SAP application environment, improve the user experience, reduce business processes, and offer current digital operations.
The firm spends Rs 40.4 crore on the environment and recycles 235.09 MT (64.20%) of trash. LTIMindtree Ltd’s order book is at USD 4.87 billion as of FY23, maximizing shareholder value.
Larsen & Toubro Infotech Ltd provides a wide range of IT services, including application development, maintenance and outsourcing, corporate solutions, and infrastructure management.
Written by:- Abhishek Singh
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