LTIMindtree wins its largest-ever deal with a global media & entertainment company

Indian IT services company LTIMindtree has won its largest-ever deal, with the size of the deal pegged at $580 million. The sixth largest software services exporter in India said the deal was with a leading global media and entertainment company, without disclosing the name of the client. The deal comes at a time when India's $283-billion IT sector is facing macroeconomic uncertainties, tariff-related risks and changes in U.S. immigration policy.

The company's shares closed 3% higher on Monday, marking their biggest daily jump in nearly five months.

LTIMindtree said it will play a role in the client's efforts "to streamline operations and modernize delivery models, incorporating automation, process optimization, and vendor consolidation".

"This agreement reflects the trust placed in our expertise and our shared commitment to building future-ready enterprises with technology-driven solutions that enhance operational efficiencies, enable growth, and drive measurable business impact in an industry that’s constantly innovating,” said Venu Lambu, CEO and MD, LTIMindtree.

LTIMindtree had also announced its now second-largest deal of $450 million in May, which sources said was with U.S. agribusiness giant Archer-Daniels-Midland.

LTIMindtree’s latest financial results reflect moderate growth. The company posted a 10.6% year-on-year increase in net profit to ₹1,254.6 crore in Q2, while revenue rose 7.6% to ₹9,840.6 crore. On a sequential basis, profit grew 11.2%, and revenue saw a marginal uptick of 0.7%. In dollar terms, revenue stood at $1,153.3 million, marking a 2% quarter-on-quarter and 5.2% year-on-year increase.