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Mindtree net profit up 57% to Rs 398 crore in September quarter, revenue up 34%

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Mindtree reports net profit of Rs 398 crore in September quarter

Mid-cap information technology firm Mindtree today announced its July-September quarter results for the financial year 2021-22, reporting a net profit of Rs 398.9 crore, a year-on-year growth of 57.2 per cent on a consolidated basis as compared to profit. to be done. 253.7 crore in the year-ago period.

The company’s revenue from operations stood at Rs 2,586.2 crore in the second quarter of the current financial year as against Rs 1,926 crore in the same period last year, showing a year-on-year growth of 34.3 per cent.

“Our revenue in the second quarter was $350.1 million, up 12.7 percent sequentially and 34.1 percent year-over-year, our highest YoY growth for the quarter in a decade. Debashish Chatterjee, Chief Executive Officer and Managing Director, Mindtree said, “We maintained EBITDA margins at 20.5 per cent while investing aggressively in expanding our domain, digital and leadership capabilities, geographic footprint and hyper scalar partnerships.

“The broad-based pace and growth approach across all verticals, service lines and geographies testifies to our operational rigor and focus on being a reliable business transformation partner for our customers,” Mr Chatterjee said.

The board of the company in its meeting held today announced an interim dividend of 100 per cent – Rs 10 per equity share of par value of Rs 10.0 per equity share, according to a regulatory filing by the company to the stock exchanges. Larsen & Toubro (L&T) Group Company is a global technology services and digital transformation firm, currently operating in 24 countries around the world.

Earlier this year, Mindtree signed an agreement to acquire NXT Digital Business – L&T Group’s cloud based IoT and AI platform for Industry 4.0, for a total of Rs 198 crore.

Shares of Mindtree closed 2.28 per cent higher at Rs 4,363.25 on the BSE on Wednesday, October 13.

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