Life Insurance Corporation of India (LIC) has raised its stake in LTIMindtree from 5.033% to 7.034% during the period between March 20 and November 19, 2024.

“Holding increased from 5.033% to 7.034%, a net increase of 2.001% during the period from 20.03.2024 to 19.11.2024 at an average cost of ₹4,950.807,” LIC said on Thursday in a filing on BSE.

Shares of LTIMindtree finished Thursday’s trading at a price of ₹5,893.25, up 0.1%.

In its Q2 FY25 results, LTIMindtree posted a consolidated net profit of ₹1,251 crore, reflecting a year-on-year increase of 7.7% from ₹1,161.8 crore reported in the same period last year. Sequentially, the profit grew by 10.33%. The company’s share price closed 0.70% higher at ₹6,403.20 on the BSE.

The Mumbai-based IT services provider posted consolidated revenue from operations of ₹9,432.9 crore for the quarter, up nearly 6% from ₹8,905.4 crore in Q2 FY24, and a 3.2% increase from ₹9,142.6 crore in Q1 FY25.

The board has also approved an interim dividend of ₹20 per equity share of par value Re 1 each, providing a return to shareholders amidst the firm’s positive performance.

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