BENGALURU (Reuters) - India's LTIMindtree, reported a bigger-than-expected rise in first-quarter revenue, snapping three straight quarters of slowing growth, aided by growth in its manufacturing and technology, media & communications (TMT) segments.

Revenue rose 5.1% to 91.43 billion rupees ($1.09 billion) year-on-year, beating analysts' average estimates of 90.8 billion rupees, as per LSEG data.

The revenue beat indicates early signs of recovery for India's sixth-largest software services company. The $254-billion IT sector has been struggling to boost revenue as clients cut discretionary spending in the past few quarters on global economic uncertainties and as higher interest rates make borrowing more expensive.

Revenue from the TMT and manufacturing segments grew 11.9% and 10.5% year-on-year.

It also recorded growth in its largest market of North America as clients spent on essential projects, said CEO Debashis Chatterjee.

"This is attributed to a measured uptick in IT spending for critical initiatives with clients balancing innovation and fiscal prudence."

Revenue from its largest BFSI segment - which accounts for around a third of the company's overall revenue - grew sequentially, but declined 2.7% year-on-year.

"The financial outlook for S&P500 BFSI has improved over Q4," brokerage Anand Rathi said in a note, adding that better total contract value to revenue conversion is also "likely to help improve growth rates for Indian IT".

The L&T Group firm's net profit, however, fell 1.5% to 11.35 billion rupees ($135.89 million), missing analyst estimates of 11.64 billion rupees, as per LSEG data.

Its total order bookings for the quarter stood at $1.4 billion, at roughly the same level as last year's.

Commentary from LTIMindtree's larger rivals Tata Consultancy Services and HCLTech, which reported revenue growth last week, continued to remain cautious, with TCS saying it is "too early" to predict sustained growth.

($1 = 83.5210 Indian rupees)

(Reporting by Haripriya Suresh and Sai Ishwarbharath B; Editing by Janane Venkatraman)