Street View: India's LTM management optimism leaves analysts unimpressed

LTM

13/07/2026 06:40

** Indian IT services co 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
** LTM last up 1%
     
ANALYSTS CAUTIOUS
** Citi ("sell") cuts PT to 3450 rupees from 3455 rupees; says performance in line with lowered expectations for IT sector as a whole
** Citi remains cautious considering sluggish growth, high competitive intensity of sector, and impact of AI and GCCs
** JPMorgan maintains "neutral" rating (PT 4050 rupees) and cuts EPS estimates by 3-8% due to FX losses; says co's acquisition of Randstad's tech consulting business is a sign that organic growth could be tougher to accelerate
** Emkay Global ("add", PT 4350 rupees) say q/q rev growth muted partly due to delayed ramp-up of large deal in India and war-related disruption in Middle East
     
($1 = 95.7400 Indian rupees)

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