Mumbai: IT company MindTree on Monday said its consolidated net profit for the fourth quarter ended 31 March dipped by 47.32% to Rs18.80 crore, compared to the same period last fiscal.
The company had a net profit of Rs35.69 crore in the same quarter ended March 2008, the IT company said in a filing to the Bombay Stock Exchange (BSE).
“We are winning new customers and expanding engagements with existing customers, and we are also focusing on improving our operational efficiency. Though we see short-term challenges, we feel good about the long-term outlook,” MindTree chief executive officer and managing director Krishnakumar Natarajan said.
Revenues of the company rose to Rs338.06 crore during the quarter under review, as against Rs208.25 crore for the same quarter previous fiscal.
The company has added 22 new customers during the quarter, the filing added.
It has added 217 people on a net basis during the quarter, taking the people strength to 7,866 as of 31 March, it added.
For the year ended 31 March, the company has posted a net profit of Rs52.31, down 49.35% from Rs103.29 crore for the same period last fiscal.
Shares of MindTree settled at Rs252.20, down 0.18% on the BSE.