LTIMindtree Reports Q3 Profit Decline Due to Labour Code Charge, Revenue Grows 11.6%

LTIMindtree reported a 10.5-11.7% year-on-year decline in Q3 FY26 net profit to around Rs 970 crore, primarily due to a one-time Rs 590 crore charge linked to new labour code implementation. Excluding this exceptional item, adjusted profit rose about 29% YoY. Revenue grew 11.6% YoY to Rs 10,781 crore, supported by strong deal wins and AI-driven demand. The company plans wage hikes starting Q4 FY26 for half its workforce, spread over two quarters, aiming to offset costs through operational efficiencies. Despite profit pressures, LTIMindtree maintains growth optimism with a focus on strategic repositioning and market expansion.