Street View: Brokerages cautiously optimistic after India's LTM Q1 earnings

LTM

13/07/2026 08:58

Updates
** Indian IT services firm LTM LTIM.NS on Saturday posted Q1 consol net profit rise of 17%; rev from ops up 18%
** Co expects growth momentum to continue through year thanks to strong order book and healthy pipeline across industry segments, said CEO Venu Lambu
** Shares up 4.5%
     
EARNINGS IN LINE 
** Axis Capital ("buy") cautiously optimistic on sector; says total inflows of $1.7 bln, including two large deal wins, supports management's confidence in growth acceleration
** Citi ("sell") says performance in line with lowered expectations for IT sector as a whole, notes top 5 client revenue increased 4.5% q/q after four consecutive quarters of decline
** Emkay Global ("add", PT 4350 rupees) says deal wins remained healthy with AI rev (~12% of total rev) reaching quarterly run rate of $150 mln
** Emkay says q/q rev growth muted partly due to delayed ramp-up of large deal in India and war-related disruption in Middle East
** JPMorgan says co's acquisition of Randstad's tech consulting business is a sign that organic growth could be tougher to accelerate; maintains "neutral" rating (PT 4050 rupees) and cuts EPS estimates by 3-8% due to FX losses
     
     
($1 = 95.7400 Indian rupees)

 (Reporting by Abhirami G in Bengaluru)
 ((abhirami.g@thomsonreuters.com))