LTIMindtree Q3 Net Profit Dips 12% to Rs 960 Crore Amid Labour Code Charges

• LTIMindtree reported a 12% year-on-year decline in net profit to Rs 960 crore for Q3 ended December 31.
• The decline includes a significant one-time impact of Rs 590.3 crore due to new labour code implementation charges.
• Excluding this one-time charge, net profit would have increased by 29% YoY to Rs 1,401 crore.
• Revenue for the quarter grew 11% YoY to Rs 10,781 crore, with operating margins improving sequentially to 16.1%.
• The company added 1,511 employees in Q3, and attrition improved to 13.8%.

Why It Matters: LTIMindtree's Q3 net profit fell due to one-time labour code charges, but underlying performance showed growth.