LTIMindtree (LTM) Share Price: Q2 FY27 Results, Profit, Dividend and Deal Wins Explained
LTM Limited, formerly LTIMindtree, reported Q2 FY27 revenue of about ₹11,808 crore on October 16, 2026, up 13.6% year on year, but net profit was nearly flat at ₹1,398 crore, Whalesbook reported. The board declared an interim dividend of ₹25 per share. The LTM share price had closed at ₹4,390 on NSE that day, up 3.66%, before the numbers came out.
That gap between 13.6% revenue growth and flat profit is the story of this quarter. Most of it comes down to two things: the weak rupee and costs growing faster than sales. Let's unpack both.
Key Takeaways
- Revenue: ₹11,807.6 crore, +13.6% YoY in rupees; $1,235.2 million, +1.1% QoQ in dollars.
- Constant-currency growth: 5.1% YoY.
- Net profit: ₹1,398 crore, roughly flat YoY; down 7.9% YoY in dollar terms.
- EBIT margin: 15.6%, up 10 basis points QoQ.
- Interim dividend: ₹25 per share, up from ₹22 a year ago.
- GoPocket analysis: about 8.5 percentage points of the 13.6% rupee revenue growth came from currency, not business volume.
What Did LTM Report for Q2 FY27?
| Metric (Q2 FY27) | Value | Change |
|---|---|---|
| Revenue (₹) | ₹11,807.6 crore | +13.6% YoY |
| Revenue ($) | $1,235.2 million | +1.1% QoQ |
| Constant-currency growth | - | +5.1% YoY |
| EBIT | ₹1,838 crore | +11.5% YoY |
| EBIT margin | 15.6% | +10 bps QoQ |
| Net profit (₹) | ₹1,398 crore | Roughly flat YoY |
| Net profit ($) | $144 million | -7.9% YoY |
| Order inflow | $1.26 billion | - |
| Headcount | 88,835 | +949 QoQ |
| Attrition (trailing 12 months) | 13.3% | -90 bps YoY |
Sources: Whalesbook (October 16, 2026) for rupee revenue and profit; Investing.com summary of the company's investor presentation (October 16, 2026) for dollar, margin, order and workforce data. Consolidated figures.
Why Did Profit Stay Flat When Revenue Grew 13.6%?
Profit stayed flat mainly because operating costs grew faster than revenue. Direct costs rose 17.4% year on year to about ₹8,502 crore, ahead of revenue growth, according to the presentation summary reported by Investing.com. The PAT margin slipped to 11.7% from 12.7% in Q1 FY27, which had benefited from a one-time gain on the company's Voicing AI investment.
The EBIT margin of 15.6% is still below the 15.9% reported in Q2 FY26, but it has improved sequentially. Management said it aims to hold FY27 EBIT margins at roughly FY26 levels, including the impact of acquisitions.
GoPocket Analysis: How Much Growth Came From the Rupee?
Rupee revenue grew 13.6%, but constant-currency revenue grew only 5.1%. Constant currency strips out exchange-rate movements, so it shows how much more work the company actually did for clients. The difference, roughly 8.5 percentage points (13.6 minus 5.1), reflects the weaker rupee turning each dollar of revenue into more rupees.
This matters for two reasons. First, currency gains can reverse if the rupee strengthens. Second, it explains why dollar profit fell 7.9% while rupee profit was flat. Investors who look only at the rupee headline may overestimate the underlying momentum.
A second check is deal flow. Order inflow of $1.26 billion against quarterly revenue of $1.235 billion gives a book-to-bill ratio of about 1.02x (1.26 ÷ 1.235). A ratio near 1x means the company is roughly replacing what it bills each quarter, not building a large surplus pipeline. Whalesbook noted that the decline in new deal bookings has drawn investor attention.
How Big Is LTM's AI Business?
AI-related revenue now makes up 13.4% of total sales and grew 40% year on year, as per the Investing.com summary. Combined Enterprise AI and Business AI grew 47%. Management also said it may start reporting annual contract value (ACV) and total contract value (TCV) splits within one or two quarters, which would give investors clearer visibility into the deal pipeline.
LTM Dividend: How Much and When?
The board declared an interim dividend of ₹25 per share of face value ₹1, compared with ₹22 a year earlier, about 13.6% higher. At the October 16 close of ₹4,390, ₹25 equals an interim yield of about 0.57% (25 ÷ 4,390). Shareholders should check the record date in the company's stock exchange filing, as eligibility depends on holding shares on that date. Our explainer on record date and ex-date covers how T+1 settlement affects eligibility.
How Has the LTM Share Price Moved?
LTM closed at ₹4,390 on October 16, 2026, up 3.66%, as IT stocks rallied across the market that day. Since trading under the LTM symbol, the stock's high was ₹4,850 on August 11, 2026, and its low was ₹3,528 on June 30, 2026, according to NSE data. The October 16 close was about 9.5% below that high.
Because the results came after market hours on Friday, Monday's session will be the first chance for the market to react. Price direction after results is never guaranteed, and the 3.66% pre-result rise means some optimism was already in the price.
What Is Management Expecting for H2 FY27?
- H2 FY27 to be stronger than H1, driven by AI deployments, faster conversion of AI deals and recovery in financial services.
- FY27 EBIT margin around FY26 levels.
- Closure of the acquisition of Randstad's digital businesses in Europe and Australia in Q3 FY27.
These are management expectations, not guarantees. The Randstad deal, once closed, will also change the revenue base, so growth comparisons in coming quarters may need adjusting.
How Does LTM Compare With Other IT Results?
Among peers that have reported Q2 FY27, Tech Mahindra posted 7.2% constant-currency YoY growth, while HCLTech and TCS reported earlier in October. Infosys reports on October 23. Track Coforge, Tech Mahindra and HCL Technologies on GoPocket for side-by-side comparison.
What Are the Key Risks?
- Currency reversal: A stronger rupee would shrink rupee revenue growth.
- Deal momentum: Book-to-bill near 1x leaves less cushion for growth.
- Margin pressure: Direct costs are growing faster than revenue.
- Acquisition integration: The Randstad digital deal adds execution risk.
- Client concentration: The top 40 clients make up about 55.6% of revenue.
Sources
- Whalesbook, LTIMindtree Q2 Net Profit Flat, Revenue Grows 13.6%, October 16, 2026
- Investing.com, LTM Q2 FY27 slides: AI revenue surges 40% as margins hold firm, October 16, 2026
- NSE bhavcopy data for LTM, October 16, 2026
Disclaimer: This article is for information and educational purposes only. It is not a recommendation to buy, sell or hold any security. Figures are based on media reports of company disclosures; verify with the official exchange filing. Consult a SEBI-registered investment adviser before investing.
