Mumbai’s IT powerhouse LTIMindtree announced its Q3 FY26 results on Monday, revealing a 10.4% year-on-year decline in net profit to ₹970.6 crore for the October-December quarter. This dip contrasts sharply with the ₹1,085.4 crore recorded in the same period last fiscal year.
The primary culprit? A one-time expense of ₹590.3 crore triggered by the implementation of new labor codes. In its exchange filing, the company classified this as an ‘exceptional item’ in its consolidated profit and loss statement, emphasizing that it does not reflect any weakness in core business performance.
Despite the profit setback, revenue painted a brighter picture. LTIMindtree posted consolidated revenue of ₹11,008.2 crore, up 11.49% from ₹9,873.4 crore a year ago. Operational revenue climbed 11.59% to ₹10,781 crore, underscoring robust demand for its digital solutions.
CEO and MD Venu Lambu struck an optimistic tone. ‘Our strong Q3 performance highlights our strategic AI transformation, consistent large-deal wins, and operational excellence, backed by efforts to build a more robust and balanced portfolio,’ he stated.
Lambu further noted this marks the third consecutive quarter of over 2% growth, attributing it to disciplined execution, deep tech-domain expertise, and diverse AI-powered offerings. As regulatory adjustments settle, analysts expect LTIMindtree’s fundamentals to shine through, positioning it well in India’s competitive IT landscape.
The Mumbai-headquartered firm continues to navigate global economic headwinds while capitalizing on digital transformation trends. Investors will watch closely for signs of sustained revenue momentum into FY26’s final quarter.