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Mindtree Q4 net profit climbs 54% to Rs 317.3 crore

NEW DELHI: IT firm Mindtree on Friday said its consolidated net profit rose 53.9 per cent to Rs 317.3 crore for the three months ended March.
Its net profit was at Rs 206.2 crore in the year-ago period, Mindtree said in a statement.
The Bengaluru-based company’s revenue increased by 2.9 per cent to Rs 2,109.3 crore in the fourth quarter of the current fiscal. It stood at Rs 2,050.5 crore in the same period a year ago.
In dollar terms, the net profit was up 53.4 per cent at $43.3 million while revenue was higher by 3.5 per cent at $288.2 million compared to the year-ago period.
“We are proud to deliver another strong quarter, driven by significant traction in our client portfolio globally, leading to revenue growth of 5.2 per cent, EBITDA of 21.9 per cent, and an order book of $375 million at the end of Q4,” Mindtree chief eecutive officer and managing director Debashis Chatterjee said.
He noted that the company’s journey of profitable growth and seamless delivery during the pandemic year has been “made possible by the resilience of Mindtree Minds, the commitment of our leadership team, and above all, the continued support of our clients”.
Chatterjee also said the final dividend of Rs 17.5 per share announced reinforces Mindtree’s commitment to enhance shareholder value.
“For the year, we delivered revenues of USD 1,076.5 million and margin expansion of 680 basis points while increasing our order book by 12.3 per cent.
“As we enter FY22, we are confident that continued client demand for our transformative services, a strong order book, and our strategic investments position us well to deliver double-digit growth and sustain EBITDA above 20 per cent,” he said.
Mindtree’s FY’21 net profit grew 76 per cent to Rs 1,110.5 crore while revenue was up 2.6 per cent at Rs 7,967.8 crore compared to the previous fiscal.
At the end of March, the company had 23,814 employees and its trailing 12-month attrition was at 12.1 per cent.
Its active client base was at 270 as of March 31, 2021.

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