LTIMindtree shares gain 3% after launching NextEra JV with Aramco Digital

Business Standard

6 days ago

Shares of LTIMindtree rose over 3 per cent on Thursday after partnering with a unit of Aramco to announce the launch of NextEra, an information technology (IT) services company headquartered in Saudi Arabia.
LTIMindtree's stock rose as much as 3.48 per cent during the day to ₹5,276 per share, the biggest intraday gain since May 12 this year. The stock pared gains to trade 1.6 per cent higher at ₹5,186 apiece, compared to a 0.02 per cent advance in Nifty50 as of 10:38 AM.
Shares of the company have risen 13 per cent so far this month and have gained over 32 per cent from their April lows. The stock has fallen 6.8 per cent this year, compared to a 4.8 per cent rise in the benchmark Nifty50. LTIMindtree has a total market capitalisation of ₹1.5 trillion, according to BSE data. Track LIVE Market Updates Here
Aramco Digital, LTIMindtree launch NextEra
Aramco Digital, the of energy giant Aramco, and LTIMindtree have jointly launched NextEra, a new-generation IT services firm in Saudi Arabia.
Formed under the strategic joint venture 'LTIM Aramco Digital Solutions for Information Technology Company', NextEra aims to drive Saudi Arabia's digital transformation in alignment with its Vision 2030 goals. The initiative is part of Aramco's Namaat Industrial Investments Program, which supports homegrown innovation and sustainable economic diversification.
NextEra will offer advanced digital solutions powered by AI, automation, cloud services, and digital engineering, all tailored to enhance operational efficiency, decision-making, and customer experiences.
'This launch is a pivotal milestone in localising IT services and building a future-ready digital ecosystem,' said Nabil Al-Nuaim, Chairman of NextEra and CEO of Aramco Digital. 'Our partnership with LTIMindtree blends world-class tech expertise with deep regional insight. Through NextEra, we aim to drive innovation, enhance competitiveness, and contribute meaningfully to Saudi Arabia's digital journey.'
LTIMindtree Q4 results
India's sixth-largest IT services company reported a 2.6 per cent increase in profit in the fourth quarter of the financial year 2024-25 (Q4FY25) to ₹1,128.5 crore. On a sequential basis, the profit was up 3.9 per cent.
Revenue was up 9.9 per cent to ₹9,771.7 crore during the same period last financial year. On a quarter-on-quarter basis, the revenue grew 1.1 per cent.
Growth during the quarter was mainly driven by banking, financial services and insurance (BFSI) and manufacturing businesses, which grew at 12 per cent and 13.3 per cent year-on-year (Y-o-Y) respectively. The consumer business reported negative growth of 1.9 per cent Y-o-Y. Healthcare, lifesciences and public services was down 16.2 per cent Y-o-Y.