Home / Companies / Company Results /  Mindtree Q4 net up 8.9%; board declares special dividend of 200%

New Delhi: Mid-sized IT firm Mindtree on Wednesday reported a consolidated net profit of 198 crore during the January-March quarter, a 9% rise against a year ago. The Bengaluru-based company's revenue rose 25.6% to 1,839 crore during the period, according to an exchange filing.

Mindtree, which is facing a hostile takeover bid by infrastructure giant Larsen & Toubro (L&T), said its board also declared an interim dividend of 3 per equity share, and recommended a special dividend of 200% ( 20 a share) to "celebrate the twin achievements of exceeding $1 billion annual revenue milestone and 20th anniversary of the company" subject to shareholders' nod.

EDITDA (earnings before interest, taxes, depreciation and amortization) was at 280 crore during the quarter, up 19% year-on-year. EBITDA margin deteriorated 90 basis points to 15.2% in January-March.

"Mindtree has delivered exceptional performance for both the fourth quarter and the full fiscal year as we cross the historic $1 billion milestone. Over the course of two decades our strategy of being expertise-led and backed by a unique culture continue to help us attract world-class people and create customer successes," Mindtree CEO and managing director Rostow Ravanan said.

The company was "well-poised to continue delivering industry-leading returns for all our stakeholders, and the best was yet to come," he added.

Mindtree's FY'19 net profit grew 32.2% to 754.1 crore, while revenue rose 28.5% to 7,021.5 crore from the previous financial year.

Earlier this month, the Competition Commission of India approved L&T’S hostile takeover bid for Mindtree.

With PTI inputs

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