LTM expects shorter-cycle AI deals to accelerate revenue growth in the second half of FY27, reflecting a shift in the nature of technology engagements the company is pursuing.

Shorter AI deal cycles as a growth lever

The company's outlook points to a structural change in how AI-related contracts are being structured, with shorter deal durations expected to translate into faster revenue recognition in H2FY27. This contrasts with longer-gestation technology transformation deals that typically take more time to reflect in topline performance.

Shorter AI deals are increasingly being seen across the technology services sector as enterprises seek quicker deployment of AI capabilities, enabling service providers to book revenues over compressed timelines compared to traditional multi-year engagements.

LTM Limited (formerly known as LTIMindtree Limited) reported consolidated revenue from operations of ₹1,18,076 million for Q2FY27, up 13.6% YoY. However, its net profit after tax stood at ₹13,980 million, falling short of the market estimate of ₹15,000 million and declining 6.0% QoQ.

The results for the quarter and six months ended September 30, 2026 were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on October 16, 2026. The unaudited standalone and consolidated financial results were subjected to a limited review by statutory auditor Deloitte Haskins & Sells Chartered Accountants LLP.

Earnings call recording availability

In continuation of its earlier communication, LTM informed stock exchanges that the audio recording of the Q2FY27 earnings conference call held on October 16, 2026, is available on the company's website. This follows the standard disclosure protocol for investor relations materials post-results announcement.

Q2FY27 consolidated financial performance

The following table summarises key consolidated income statement metrics for Q2FY27 against Q1FY27 and Q2FY26 (₹ in million):

In USD terms, revenue for Q2FY27 stood at $1,235.2 million, reflecting 1.0% QoQ growth and 4.7% YoY growth. On a constant currency basis, QoQ growth was 1.1% and YoY growth was 5.1%. EBIT in USD terms was $192 million, up 1.4% QoQ and 2.8% YoY. Net profit in USD terms was $144 million, down 6.7% QoQ and 7.9% YoY.

For the six months ended September 30, 2026, consolidated revenue from operations was ₹2,34,156 million versus ₹2,02,349 million in the prior-year period. Net profit after tax for the half year was ₹28,485 million compared to ₹26,358 million in the six months ended September 30, 2025.

Segment-wise revenue performance

During the quarter ended June 30, 2026, the company reorganised and renamed its reportable segments. The revised segments are Financial Services, Consumer, Technology & Services, and Production. Comparative prior-period data has been restated to reflect these changes.

North America remained the largest geography at 74.3% of revenue in Q2FY27, growing 4.7% YoY in USD terms. Europe contributed 14.9% and grew 6.4% YoY, while Rest of the World accounted for 10.8% and grew 2.0% YoY.

Standalone financial highlights

On a standalone basis, LTM reported total income of ₹1,13,711 million for Q2FY27 versus ₹1,02,548 million in Q2FY26. Standalone profit before tax was ₹18,045 million compared to ₹18,545 million in Q2FY26. Standalone net profit after tax was ₹13,519 million against ₹13,860 million in Q2FY26. Basic EPS on a standalone basis was ₹45.60 for Q2FY27.

Dividend and record date

The Board of Directors declared an interim dividend of ₹25 per equity share of par value ₹1 each for FY27. The dividend will be paid within 30 days of declaration to shareholders whose names appear in the Register of Members or in the list of Beneficial Owners provided by the Depositories as on October 23, 2026, being the record date fixed for this purpose.

Client metrics and order inflow

LTM's active client count stood at 729 in Q2FY27, with 20 new clients added during the quarter. The $100 million-plus client category expanded to 3, up by 1 on a YoY basis. Order inflow for Q2FY27 was $1.26 billion, compared to $1.68 billion in Q1FY27 and $1.59 billion in Q2FY26. Trailing twelve-month order inflow stood at $6.32 billion.

People and operational metrics

Total headcount rose to 88,835 as of Q2FY27, up 949 QoQ and 2,388 YoY. TTM attrition held steady at 13.3%, unchanged QoQ and down 90 bps YoY. Utilisation (excluding trainees) was 86.4%. Women employees comprised 31.3% of the workforce, up 50 bps YoY. Cash and investments as of September 30, 2026 stood at ₹1,52,996 million.

Board changes

The Board took note of the completion of tenure of Sanjeev Aga with effect from the close of business hours on November 8, 2026. Upon recommendation of the Nomination & Remuneration Committee and subject to shareholder approval, the Board approved the appointment of Anupam Kumar (DIN: 10086651) as Additional Director, designated as Non-Executive Non-Independent Director, liable to retire by rotation, with effect from October 16, 2026. Anupam Kumar is the Chief Executive Officer and Managing Director of L&T Realty and has over three decades of experience at Larsen & Toubro.

What the Numbers Show

While revenue grew 13.6% YoY and EBIT margin expanded slightly to 15.57%, the bottom line missed expectations. The net profit of ₹13,980 million fell short of the ₹15,000 million consensus estimate. This divergence between top-line strength and bottom-line weakness suggests potential pressure on operating costs or exceptional items not detailed in the summary data, despite the sequential improvement in EBIT margins.