Shares of LTIMindtree were trading in the green and 1% higher on 1 December after the company announced a strategic partnership with Metasphere to deliver smart sewer solutions.

The company has been selected as a strategic partner by Metasphere to scale its smart water sewers management platform, which is a wastewater application specialist. The company will transform Metasphere’s next-generation wastewater monitoring solution portfolio, enabling scalable delivery and platform to their customers.

The company announced this strategic partnership through its exchange filing on 30 November.

Sudhir Chaturvedi, President and Executive Board Member, LTIMindtree, said, “We are excited to partner with Metasphere, a Grundfos company, in their modernization program. With increasing focus on utilities worldwide, it has become critical to improve service delivery, reduce accidents and deliver real time insights to customers. After careful consideration by our team of experts, LTIMindtree took Metasphere’s cloud architecture and optimized it for AWS scale and cost. This transformation is enabling Metasphere to optimize up to 25% of the total cost, while delivering almost unlimited scale and enhanced performance.”

In its quarterly report for July-September, the company reported a 2.25% year-on-year (YoY) decline in its net profit to Rs 1,162 crore for the quarter.

The company reported a consolidated revenue of Rs 9,048.6 crore for the quarter, which is a 7.86% YoY growth from the number reported in the same quarter last year.

In a period of six months, the shares of the company have gained around 11% against the Nifty50 benchmark and have gained 8.90% over the same duration.

At 11:45 am, the shares of LTImindtree were trading 0.084% higher at Rs 5,541.50 on NSE.