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Mindtree Q1 results: Net profit rises 37% to ₹472 cr; revenue up 36%
- Mindtree Q1 results: Revenue from operations, meanwhile, rose 36.2% to ₹3,121 crore as compared to ₹2,291.7 crore in the year-ago period
Midcap IT services company Mindtree Ltd on Wednesday reported a 37.3% year-on-year growth in its consolidated net profit at ₹471.6 crore for the quarter ending 30 June, 2022 as compared to ₹343.3 crore in the same quarter last year.
Revenue from operations, meanwhile, rose 36.2% to ₹3,121 crore as compared to ₹2,291.7 crore in the year-ago period.
Ebit margin for the quarter came in at 19.2% as compared to 18.9% in March and 17.7% in the June quarter of 2021.
The Bengaluru-based company's net profit at ₹471.6 crore translated into a sequential dip of 0.3% when seen quarter-on-quarter (q-o-q).
Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree, said, “We are excited to report a strong start to FY23 with robust revenue growth, solid margin, and a record order book, demonstrating our continued industry-leading growth momentum.”
“With revenues of $399.3 million, up 5.5% sequentially in constant currency on the back of a healthy demand for our digital capabilities, this was our sixth consecutive quarter of more than 5% revenue growth in constant currency," Chatterjee further said.
The company's highest-ever order book of $570 million reflects the relevance of Mindtree's value proposition in delivering business-critical transformation at scale, Chatterjee said.
“Our EBITDA was 21.1%, underscoring our disciplined execution and operational rigor. Our highest-ever order book of $570 million reflects the relevance of our value proposition in delivering business-critical transformation at scale,” he added.
Shares of MindTree Ltd closed 2.01% up at ₹2,911.00 apiece on the NSE today.
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First Published:13 Jul 2022, 04:08 PM IST
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