Mindtree Q3 net profit up over 37% to Rs141 crore
New Delhi: Mid-sized IT firm Mindtree on Wednesday posted a 37.2% jump in consolidated net profit at Rs141.5 crore for the quarter ended 31 December 2017.
The Bengaluru-based firm had registered a net profit of Rs103.1 crore in the year-ago period, it said in a statement. Mindtree’s revenues grew 6.4% to Rs1,377.7 crore in the quarter under review from Rs1,295.3 crore in the year-ago period. In dollar terms, the company’s net profit grew 44.1% to $22 million in the said quarter, while revenue was up 11.5% to $214.3 million from the year-ago period.
“Our ‘Execute Smart’ approach to delivery continues to bear fruit and contributed to a robust quarter on all fronts. By delivering fast time-to-market for our solutions, we have created even further competitive advantage for our clients,” Mindtree chief executive officer (CEO) and managing director Rostow Ravanan said.
These strong results also reflect Mindtree’s ongoing leadership in “digital”, he added. The board of directors have recommended an interim dividend of Rs2 per equity share. Mindtree had a total headcount of 17,200 with trailing 12 month attrition at 12.6%. Mindtree shares closed marginally higher at Rs623.45 apiece on BSE on Wednesday.
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