LTM Q2 FY27 Results: Consolidated Net Profit ₹1,380 Crore on Total Income of ₹11,899 Crore
Earnings
IT Services
Blacklitt Research3 min read
Petiatil, via Wikimedia Commons (public domain). Illustrative image.
LTM reported consolidated total income of ₹11,899.10 crore and net profit of ₹1,379.90 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹11,371.10 crore and net profit was ₹1,351.90 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹11,899 crore, up 11.3% YoY, up 0.3% QoQ
Net profit: ₹1,380 crore, down 0.1% YoY, down 6.0% QoQ
EPS: ₹47.15, against ₹47.28 in Q2 FY26
Revenue in US dollars: $1,235.2 million, up 4.7% YoY and 5.1% in constant currency
Standalone
The company on its own, without its subsidiaries
Total income: ₹11,371 crore, up 10.9% YoY, up 3.0% QoQ
Net profit: ₹1,352 crore, down 2.5% YoY, up 8.9% QoQ
EPS: ₹45.60, against ₹46.77 in Q2 FY26
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
11,899.10
10,694.70
+11.3%
11,863.40
+0.3%
Revenue from operations
11,807.60
10,394.30
+13.6%
11,608.00
+1.7%
Other income
91.50
300.40
-69.5%
255.40
-64.2%
1,379.90
1,381.20
-0.1%
1,468.60
-6.0%
Finance costs
69.90
69.30
+0.9%
76.30
-8.4%
Depreciation
255.20
282.00
-9.5%
261.30
-2.3%
Tax expense
479.80
498.00
-3.7%
509.80
-5.9%
Net profit margin
11.60%
12.91%
-1.32 pp
12.38%
-0.78 pp
Tax as share of profit before tax
25.8%
26.5%
-0.70 pp
25.8%
+0.03 pp
EPS, basic (₹)
47.15
47.28
-0.3%
49.46
-4.7%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Revenue growth is mostly currency. Revenue from operations rose 13.6% in rupees to ₹11,807.60 crore, but in US dollars it rose 4.7% to $1,235.2 million and in constant currency 5.1%. The gap of about 9 points between the rupee and dollar growth rates is the rupee's move, not new business.
Operating profit grew but net profit did not, because other income fell. EBIT was ₹1,838 crore, up 11.5% with a 15.6% margin, but other income dropped to ₹91.50 crore from ₹300.40 crore, a ₹209 crore fall that is larger than the roughly ₹190 crore EBIT gain (derived). Net profit was therefore flat, ₹1,379.90 crore against ₹1,381.20 crore, and the net margin slipped to 11.60% from 12.91%. Depreciation fell 9.5% and the tax rate eased to 25.8%.
Against Q1 FY27 revenue rose 1.7% but net profit fell 6.0% from ₹1,468.60 crore, with other income down 64% (₹91.50 crore from ₹255.40 crore). For H1 FY27 net profit is ₹2,848.50 crore against ₹2,635.80 crore, up 8.1%.
The business metrics in the investor release are steady: order inflow of $1.26 billion, 729 active clients, 88,835 employees and trailing twelve-month attrition of 13.3%.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
11,371.10
10,254.80
+10.9%
11,039.20
+3.0%
Revenue from operations
11,276.40
9,966.60
+13.1%
10,988.30
+2.6%
Other income
94.70
288.20
-67.1%
50.90
+86.1%
1,351.90
1,386.00
-2.5%
1,241.10
+8.9%
Finance costs
67.40
65.40
+3.1%
73.40
-8.2%
Depreciation
233.20
249.40
-6.5%
240.00
-2.8%
Tax expense
452.60
468.50
-3.4%
439.60
+3.0%
Net profit margin
11.89%
13.52%
-1.63 pp
11.24%
+0.65 pp
Tax as share of profit before tax
25.1%
25.3%
-0.18 pp
26.2%
-1.07 pp
EPS, basic (₹)
45.60
46.77
-2.5%
41.86
+8.9%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The standalone company is the group. Standalone revenue from operations of ₹11,276.40 crore is about 95% of the consolidated figure (derived), and its net profit of ₹1,351.90 crore is 2.5% lower than a year ago, against 0.1% for the group, with the same fall in other income (₹94.70 crore from ₹288.20 crore).
The board declared an interim dividend of ₹25 a share. At about 29.3 crore shares (derived from net profit and EPS) that is roughly ₹730 crore, a little over half of the quarter's net profit and about a quarter of the half's. The filing treats the dividend in a separate disclosure.
Inference
LTM's rupee revenue growth overstates its underlying growth by about 9 points, and a fall in other income of more than the EBIT gain left profit flat. The filing does not say why other income fell by so much.
For shareholders, the interim dividend is large against the quarter's profit, and the next quarters will show whether operating profit growth can outrun the lower other income.
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