Mindtree Q2 profit rises 31.5% to Rs124.7 crore
The total income of Mindtree rose 6% to Rs1,391.4 crore in July-September quarter from Rs1,312.4 crore in the same period of previous fiscal
New Delhi: IT firm Mindtree on Wednesday reported 31.5% increase in net profit to Rs124.7 crore in the second quarter ended 30 September 2017. The company had posted a net profit of Rs94.8 crore in the same period a year ago.
The total income of Mindtree rose 6% to Rs1,391.4 crore in July-September quarter from Rs1,312.4 crore in the same period of previous fiscal.
“The size and quality of our pipeline continues to grow robustly as a result of our differentiated positioning and strategic choices. We see continued growth momentum ahead and are progressing with a focus on execution excellence,” Mindtree CEO and managing director Rostow Ravanan said in a statement.
The company said that during the quarter it received the required regulatory approvals to transfer the business and net assets of its wholly-owned subsidiary Bluefin Solutions Limited, UK (’Bluefin’) to the company.
The company closed the quarter with 327 active client base and workforce of 16,910 people.
In a BSE filing, Mindtree said its board of directors recommended an interim dividend of 20% ( Rs2 per equity share of par value Rs10 each) and a special dividend of 20% (Rs2 per equity share of par value Rs10 each) on completion of ten years of Initial Public Offering (IPO).
Shares of Mindtree closed at Rs506.95 per scrip, up 0.83% at BSE today.
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