India's LTM slips after narrow Q4 revenue beat; margins in focus

LTM

24/04/2026 05:11

** Shares of India's LTM LTIM.NS down 2% to 4,438 rupees, biggest loser on Nifty IT index .NIFTYIT in early trade

** The software services provider posted revenue of 112.92 billion rupees ($1.20 billion) for Q4, narrowly beating analyst expectations of 112 billion rupees- LSEG data

** Revenue from the banking and financial services unit—its largest—fell 5.3% y/y, while four other segments rose

** Jefferies ("underperform", cuts TP to 3,700 rupees) says margins fell on wage hikes and commitments to key clients, partly offset by currency gains

** Expects margins to remain range-bound at ~15.5% with limited scope for expansion

** Ambit Capital ("sell", TP: 3,880 rupees) flags lags weak growth and margin pressure, sees valuations stretched

** Antique Stock Broking ("buy", TP:5,625 rupees) sees strong FY27 outlook on deal wins and AI push, flags near-term uncertainty in deal ramp-ups

** YTD stock down 22.27% vs NIFTY IT .NIFTYIT down 22.20%

($1 = 94.1600 Indian rupees)

 (Reporting by Devika Nair in Bengaluru)

 ((Devika.MadhusudhananNair@thomsonreuters.com;))