Mindtree Q3 net profit up over 37% to Rs141 crore
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
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.
- EPFO cuts administrative charges to 0.5%, firms to save together Rs900 crore annually
- Inclusion of ATF under GST will help airlines cut cost, says Suresh Prabhu
- Bajaj Hindusthan Sugar posts Q4 loss at Rs158 crore
- NALCO Q4 profit falls 4% to Rs257 crore
- Corporation Bank posts Q4 loss of Rs1,838 crore as provisions surge
Editor's Picks »
- Motherson Sumi continues to face margin pressure in foreign markets
- What the Warren Buffett indicator tells us about market valuations today
- Jet Airways lands with a thud in Q4 as fuel costs increase
- IBC amendments: Some dilutions, and a lot more speed
- Patanjali’s gambit is paying off in toothpaste wars