India's LTM ekes out narrow fourth-quarter revenue beat (updated)

LTM

23/04/2026 13:39

Updates with details

BENGALURU, April 23 (Reuters) - India's LTM LTIM.NS posted fourth-quarter revenue that marginally beat expectations, as growth in its four other business verticals offset a decline in its largest banking and financial services segment.

The software services provider reported consolidated revenue of 112.92 billion rupees ($1.20 billion) for the quarter ended March 31, narrowly beating analyst expectations of 112 billion rupees, according to data compiled by LSEG.

LTM's order inflow rose 5.2% on year to $1.69 billion, with 13 new clients added during the quarter, the company said.

Revenue from the banking and financial services unit—its largest—fell 5.3% from a year earlier, while revenue from its four other segments including consumer, healthcare and manufacturing rose.

A weaker rupee also aided revenue growth, as software services firms bill largely in foreign currencies while incurring most costs in rupees.

However, India's $315-billion IT industry continues to struggle with weak tech spending in key markets such as North America, as clients focus on essential or cost-optimisation initiatives amid geopolitical turmoil and macro uncertainties.

India's largest IT companies have yet to flag any broad-based improvement in the demand environment.

LTM's net profit came in at 13.92 billion rupees, a little below analyst estimates of 14.13 billion rupees.

 (Reporting by Haripriya Suresh and Devika Nair in Bengaluru; Editing by Janane Venkatraman)

 ((haripriya.suresh@thomsonreuters.com))