LTIMindtree shares tumble nearly 7% after Q3 FY26 profit falls 10.5%

New Delhi (PTI): Shares of IT firm LTIMindtree on Tuesday tumbled nearly 7 per cent after the company reported a 10.5 per cent decline in consolidated net profit for December quarter FY26.

The stock tanked 6.67 per cent to settle at Rs 5,977.85 on the BSE. During the day, it dived 7.68 per cent to Rs 5,912.80.

At the NSE, it tumbled 6.71 per cent to end at Rs 5,976.50.

The company's market valuation declined by Rs 12,625.52 crore to Rs 1,77,236.82 crore.

LTIMindtree on Monday reported a 10.5 per cent decline in consolidated net profit to Rs 970.6 crore in December quarter, primarily offset by the one-time provision from the implementation of new Labour Codes.

The company had reported a net profit (attributable to shareholders) of Rs 1,085 crore in the same period a year ago.

LTIMindtree accounted for a one-time cost of Rs 590 crore due to the implementation of new Labour Codes announced by the government in November 2025.

"Considering the material, one-time nature of the incremental amount, the Group has presented the same as an 'Exceptional Item' in the consolidated statement of profit and loss for the quarter and nine months ended December 31, 2025, amounting to Rs 5,903 million.

"Upon notification of the related Rules to the new Labour Codes by the government and any further clarification from the government on other aspects of the new Labour Codes, the Group will evaluate and account for differential impact, if any, in subsequent periods," the company said in a regulatory filing.

LTIMindtree's revenue from operations grew 11.6 per cent to Rs 10,781 crore in Q3 FY26, as compared to Rs 9,661 crore in Q3 FY25.

Sequentially, the company's profit fell 30.7 per cent, while revenue grew by 3.7 per cent.