Mindtree Q1 net profit up over 61% to Rs 343.4 cr

Mindtree has reported a 61.2 pc rise in consolidated net profit to Rs 343.4 crore for the June quarter compared to that of Rs 213 crore in the same period last year.

Revenue of the Bengaluru-based company grew by 20.1 per cent to Rs 2,291.7 crore in the quarter under review from Rs 1,908.8 crore in the year-ago period, it added. In dollar terms, net profit rose by 64.7 pc to $46.5 million while revenue grew by 22.6 per cent to $310.5 million in the June quarter over the year-ago period. At the end of June quarter, the company’s active client base stood at 260, the filing said. Mindtree had 27,256 employees at the end of the June quarter with trailing 12-months attrition at 13.7 per cent.

We are pleased to report a strong start to FY22 with broad-based first-quarter growth across all service lines and industry segments, Mindtree CEO and MD Debashis Chatterjee said. For the quarter, revenues were $310.5 mn, up 7.7 pc sequentially, and EBITDA was 20.3 per cent – demonstrating the resilience of Mindtree business in a challenging environment. Our highest-ever orderbook of $504 million affirms that the focused execution of our strategy and our client-centricity in re-imagining business models for the digital era are helping us drive profitable and sustainable growth, he said.

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