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LTM Limited (formerly LTIMindtree) reported strong top-line growth but almost no year-over-year profit improvement for the quarter ended September 2026. Consolidated revenue from operations reached ₹11,807.6 crore in Q2 FY27, up 13.6% from a year earlier, while profit after tax was ₹1,379.9 crore, down 0.1% on the precise comparison reported by Economic Times. The company also declared a ₹25 interim dividend per equity share.

Q2 FY27 results at a glance

Metric Q2 FY27 Comparison
Consolidated revenue from operations ₹11,807.6 crore (₹118,076 million) Up 13.6% year over year; up 1.7% quarter over quarter
Profit after tax ₹1,379.9 crore Down 0.1% year over year versus ₹1,381.2 crore
EBIT ₹1,838 crore (₹18,381 million in Quartr’s presentation) Up 11.5% year over year
EBITDA ₹20,933 million Reported by Quartr; comparable growth rate was not stated
Order inflow $1.26 billion Below $1.59 billion in Q2 FY26 and $1.68 billion in Q1 FY27
Interim dividend ₹25 per equity share Declared by the board for 2026
Combined Enterprise AI and Business AI revenue Not stated as an absolute amount Up 47% year over year

Financial Express rounded the profit comparison to ₹1,398 crore versus ₹1,401 crore, which produces the same practical conclusion: profit was marginally lower. The small difference between the two reports is a matter of presentation and rounding, not a different direction for earnings.

Why did revenue grow while profit barely changed?

The reported numbers show that LTM converted substantial revenue growth into only a broadly stable bottom line. Revenue grew 13.6% year over year, but the precise PAT comparison moved from ₹1,381.2 crore to ₹1,379.9 crore. EBIT nevertheless increased 11.5% year over year, indicating that operating profit was higher even though net profit was essentially flat.

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The available results reports do not provide a complete line-by-line bridge explaining the gap between EBIT growth and PAT. They therefore do not establish whether the difference came from finance costs, taxes, exceptional items, non-operating income, currency effects or another expense category. It would be unsafe to attribute the flat PAT to any one of those factors without a disclosed reconciliation.

Sequentially, the contrast was sharper in the Financial Express account: revenue increased 1.7% from Q1 FY27, while profit fell 4.6%. That pattern means the quarter’s additional sales did not produce sequential net-profit growth, even as the year-over-year operating comparison remained positive.

AI growth is a major contributor, but not the whole earnings story

LTM said combined revenue from its Enterprise AI and Business AI offerings grew 47% year over year. Chief executive and managing director Venu Lambu described the performance as “broad – based” and linked it to the execution of the company’s AI-centric strategy.

The 47% figure applies to the combined AI categories, not to total company revenue. It demonstrates faster expansion in that portfolio, but the published figures do not state how many rupees of company revenue it represents or how much of the 13.6% consolidated growth it contributed. AI momentum therefore supports the growth narrative without, by itself, explaining the nearly flat PAT.

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Order inflow points to a softer bookings quarter

Q2 FY27 order inflow was $1.26 billion. That was lower than both the $1.59 billion recorded in Q2 FY26 and the $1.68 billion in Q1 FY27.

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  • Year over year, the reported inflow was about $330 million below the comparable quarter.
  • Quarter over quarter, it was about $420 million below Q1 FY27.
  • These are order-intake comparisons, not revenue declines; existing contracts can continue producing revenue after a weaker bookings quarter.

The combination of strong current-quarter revenue and weaker new order inflow creates two different time horizons for investors. Revenue reflects work already being delivered, while order inflow is an indicator of future work entering the pipeline. The available reporting does not provide a numerical conversion schedule from bookings to revenue, so the eventual effect on growth cannot be quantified from these figures alone.

What the ₹25 interim dividend means

LTM’s board declared an interim dividend of ₹25 per equity share for 2026. The declaration is a cash-return decision alongside the quarterly results; the reported material does not state a payout ratio, record date, ex-dividend date or payment date. Shareholders should use the company’s formal exchange filing for those dates and eligibility rules rather than infer them from the earnings announcement.

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How investors can read the quarter

Positive signals

  • Revenue growth of 13.6% year over year and 1.7% sequentially.
  • EBIT growth of 11.5% year over year.
  • Enterprise AI and Business AI revenue growth of 47% year over year.
  • A ₹25 interim dividend per share.

Points requiring monitoring

  • Precise PAT declined 0.1% year over year and fell 4.6% sequentially in the Financial Express comparison.
  • Order inflow of $1.26 billion trailed both comparison periods.
  • No numerical forward outlook was provided in the available management commentary.

For investors, the 0.1% decline is best read as a signal of earnings conversion rather than a collapse in demand: the company is growing revenue and EBIT, but that growth has not yet translated into higher net profit. The next results should clarify whether margins and below-EBIT items improve and whether order inflow recovers.

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