Key Points
- LTM Q2 revenue rose 13.6 per cent year-on-year to Rs 11,807 crore
- Enterprise AI and Business AI revenue grew 47 per cent combined
- New deal bookings fell to $1.26 billion from $1.68 billion in Q1
IT services company LTM (formerly LTIMindtree) reported a 13.6 per cent year-on-year increase in revenue to Rs 11,807.6 crore for the second quarter ended 30 September 2026, driven by growth across business segments and rising demand for artificial intelligence services.
The company’s consolidated net profit stood at Rs 1,379.9 crore, largely unchanged from Rs 1,381.2 crore in the corresponding quarter last year but down 6 per cent from Rs 1,467 crore in the preceding June quarter. Revenue from operations rose from Rs 10,394.3 crore a year earlier, while sequential revenue growth stood at 1.7 per cent from Rs 11,608 crore.
In dollar terms, revenue reached $1.24 billion, up 4.7 per cent year-on-year and 1 per cent quarter-on-quarter. Revenue growth in constant currency terms was 5.1 per cent year-on-year and 1.1 per cent sequentially.
Operating profit, measured by earnings before interest and tax, rose 11.5 per cent year-on-year to Rs 1,838.1 crore. The EBIT margin, which represents the proportion of revenue retained as operating profit after covering direct costs, improved marginally to 15.6 per cent from 15.5 per cent in the previous quarter, although it remained below the 15.9 per cent recorded a year earlier.
AI revenue growth
Revenue from the company’s Enterprise AI and Business AI businesses grew a combined 47 per cent year-on-year, reflecting increased adoption of artificial intelligence among enterprise customers.
“Our broad-based performance reflects the successful execution of our AI-centric strategy,” said Venu Lambu, CEO and managing director of LTM.
Lambu said the company’s approach to combining technology and industry expertise had helped it add a financial services customer to its $100 million-plus client category.
The company expanded its artificial intelligence partnerships during the quarter, establishing a collaboration with Anthropic and launching a Claude Centre of Excellence.
More than 1,000 employees received certifications under the initiative, according to the company. LTM also secured Google Cloud Global Systems Integrator status and introduced a Salesforce and agentic AI solution on AWS Marketplace.
Deal bookings
New deal bookings moderated during the quarter. Order inflow stood at $1.26 billion, compared with $1.68 billion in the preceding quarter and $1.59 billion a year earlier.
The company reported several large contract wins, including technology services engagements with a global banking institution, a North American construction company and US-based insurance companies.
By the numbers
Key figures from this story- Rs 11,807 crore
- Q2 revenue, up 13.6% year-on-year
- 47%
- AI business revenue growth
- $1.26 billion
- Q2 deal bookings, down from $1.68 billion
Among industry segments, financial services, which accounted for 34.7 per cent of revenue, registered sequential constant currency growth of 3.1 per cent. The production segment grew 3.7 per cent, while consumer services reported marginal growth of 0.3 per cent. Technology and services revenue declined 4 per cent sequentially in constant currency terms, although it remained 7 per cent higher than a year earlier.
North America continued to account for the bulk of the company’s business, contributing 74.3 per cent of revenue. The region recorded sequential constant currency growth of 1.5 per cent, while Europe grew 1 per cent.
Headcount and cash
The company’s total headcount increased by 949 employees during the quarter to 88,835, compared with 87,886 at the end of June. Employee attrition remained unchanged sequentially at 13.3 per cent, down from 14.2 per cent a year earlier. Utilisation, excluding trainees, stood at 86.4 per cent.
Cash generation weakened despite the increase in revenue. Free cash flow, which measures cash available after capital expenditure, declined to Rs 329.4 crore from Rs 921.8 crore in the preceding quarter. Net cash generated from operating activities fell to Rs 542.2 crore from Rs 1,156.7 crore. The company’s cash and investments stood at approximately Rs 15,300 crore at the end of September.
LTM had 729 active clients at the end of the quarter, down from 740 in June, although the number of customers generating more than $10 million in annual revenue increased to 109 from 104.
The company’s board approved an interim dividend of Rs 25 per equity share with a face value of Re 1.
Your Questions, Answered
What was LTM's revenue in Q2 FY27?
LTM reported revenue of Rs 11,807.6 crore for Q2 ended 30 September 2026, up 13.6 per cent year-on-year from Rs 10,394.3 crore. In dollar terms, revenue stood at $1.24 billion.
How did LTM's AI business perform in Q2?
LTM's Enterprise AI and Business AI businesses grew a combined 47 per cent year-on-year in Q2. The company also launched a Claude Centre of Excellence through a partnership with Anthropic and secured Google Cloud Global Systems Integrator status.
What was LTM's deal booking in Q2 FY27?
New deal bookings stood at $1.26 billion in Q2, down from $1.68 billion in the preceding quarter and $1.59 billion a year earlier. The company signed technology services contracts with a global banking institution and US-based insurance companies.
What dividend did LTM announce for Q2?
LTM's board approved an interim dividend of Rs 25 per equity share with a face value of Re 1.
