LTIMindtree stock plunges 10%

New Delhi: IT stock LTIMindtree plunged more than 10 per cent in trade on Thursday due to disappointing Q3 results. The stock is trading at Rs 5,604, down 10.7 per cent on BSE.

Motilal Oswal Financial Services said in a report disappointing 3Q, weak near-term outlook a drag on FY25 growth. Longer margin recovery cycle leaves little room for upside, it added.

LTIM reported weak revenue growth of 0.7 per cent QoQ/3.1 per cent YoY CC in 3QFY24 vs. our estimate of 1.2 per cent QoQ CC, despite having a meaningful pass-through component in the Manufacturing vertical.