Mindtree posts 65% rise in Q2 profit at ₹206 crore
Mindtree revenues rose 31.8% to ₹1,755.4 crore in the second quarter from ₹1,331.6 crore in the year-ago period
New Delhi: Mid-sized IT firm Mindtree on Wednesday posted 65.4% rise in consolidated net profit at ₹206.3 crore for the quarter ended 30 September.
The company had registered a net profit of ₹124.7 crore in the year-ago period, it said in a statement.
Revenues rose 31.8% to ₹1,755.4 crore in the quarter under review from ₹1,331.6 crore in the year-ago period.
On sequential basis, the net profit was higher 30.4%, while revenue grew 7.1%.
In dollar terms, the company’s net profit increased 50.4% to $29.1 million in the said quarter, while revenue was up 19.5% to $246.4 million from the year-ago period. “Our deep expertise across both digital and run landscapes are delivering competitive advantage for our clients, while fuelling Mindtree’s continued growth,” Mindtree CEO and Managing Director Rostow Ravanan said. He said by investing in an ‘automate-everything’ platform-based approach, Mindtree is “consistently driving larger deals and industry recognition”. “During this quarter, we also further advanced the innovation in our reskilling efforts, helping our people to succeed in the modern information economy,” he said.
Mindtree had 341 active clients at the end of September, 2018. It had a total headcount of 19,402 with trailing 12 month attrition at 13%. The Board of Directors have declared an interim dividend of ₹3 per equity share.
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