LTIMindtree reported a 12% year-on-year decline in consolidated net profit for the third quarter of FY26, largely due to a significant one-time labour code-related expense. Net profit for the quarter stood at ₹959.6 crore, down from ₹1,086.7 crore in the corresponding period last year. The company clarified that the decline was driven by an exceptional labour code impact of ₹590.3 crore at the EBIT level, which translated into a ₹441.8 crore reduction in net profit. Excluding this one-off cost, LTIMindtree’s underlying performance remained robust, with adjusted net profit rising 29% year-on-year to ₹1,401.3 crore.
Commenting on the performance, Venu Lambu, CEO and Managing Director at LTIMindtree, said, “This marks our third consecutive quarter of 2%+ growth, highlighting our disciplined execution, deep tech-domain expertise, and differentiated AI-led offerings.” He added that the quarter’s results reflect the company’s strategic focus on artificial intelligence, strong momentum in large deal wins, and sustained operational discipline, supported by efforts to build a more resilient and balanced business portfolio.
Revenue from operations grew 11.6% year-on-year to ₹10,781 crore, underscoring steady demand across key verticals despite a challenging global environment. The company highlighted several large and strategic deal wins during the quarter, including a ₹1,285-crore engagement with a leading US-based insurance and financial services firm. In addition, LTIMindtree secured multiple multi-year digital transformation projects across industries, reinforcing its position as a trusted partner for enterprise-scale technology modernization.
A notable highlight was the company’s win of the ₹3,000-crore Insight 2.0 project from the Central Board of Direct Taxes (CBDT). The initiative aims to modernise India’s national tax analytics platform by leveraging advanced analytics and AI-driven capabilities. This win further strengthens LTIMindtree’s credentials in executing large-scale public sector digital transformation programs and delivering data-led solutions at national scale.
Overall, while the reported profit was impacted by an exceptional regulatory cost, LTIMindtree’s adjusted results point to strong operational momentum, healthy revenue growth, and increasing traction for its AI-led and digital transformation offerings.
