BENGALURU, April 23 (Reuters) - India's LTM posted fourth-quarter revenue that marginally beat expectations, as growth in its four other business verticals offset a decline in its largest banking and financial services segment.
The software services provider reported consolidated revenue of 112.92 billion rupees ($1.20 billion) for the quarter ended March 31, narrowly beating analyst expectations of 112 billion rupees, according to data compiled by LSEG.
LTM's order inflow rose 5.2% on year to $1.69 billion, with 13 new clients added during the quarter, the company said.
Revenue from the banking and financial services unit--its largest--fell 5.3% from a year earlier, while revenue from its four other segments including consumer, healthcare and manufacturing rose.
A weaker rupee also aided revenue growth, as software services firms bill largely in foreign currencies while incurring most costs in rupees.
However, India's $315-billion IT industry continues to struggle with weak tech spending in key markets such as North America, as clients focus on essential or cost-optimisation initiatives amid geopolitical turmoil and macro uncertainties.
India's largest IT companies have yet to flag any broad-based improvement in the demand environment.
LTM's net profit came in at 13.92 billion rupees, a little below analyst estimates of 14.13 billion rupees.
(Reporting by Haripriya Suresh and Devika Nair in Bengaluru; Editing by Janane Venkatraman)
