Companies

Mindtree posts 54% growth in Q4 net

Our Bureau Bengaluru | Updated on April 16, 2021

Order book grows 12.3%

Larsen & Toubro-owned Mindtree on Friday reported 53.9 per cent y-o-y growth in net profit at ₹317.3 crore for the quarter ended March 31, 2021. However, on a q-o-q basis, it was a decline of 2.8 per cent.

The mid-tier firm posted revenue of ₹21,09.3 crore, a growth of 4.2 per cent q-o-q and 2.9 per cent y-o-y respectively.

In dollar terms, Q4 revenue was at $288.2 million, a 5.2 per cent growth q-o-q and 3.5 per cent growth y-o-y. Though net profit, at $43.3 million indicated a decline of 1.9 per cent q-o-q, it grew 53.4 per cent y-o-y, said the company.

For the full fiscal, Mindtree posted revenues of ₹79,67.8 crore, a 2.6 per cent growth over last year while its net profit at ₹11,10.5 crore rose 76 per cent. Its dollar terms, revenue at $1,076.5 million showed a decline of 1.1 per cent, but net profit jumped 69.6 per cent at $150.0 million.

Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree, said: “For the year, we delivered revenues of $1,076.5 million and margin expansion of 680 bps, 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.”

Mindtree reported low attrition of 12.1 per cent and a high employee utilisation rate in Q4.

The company said it would ramp up its fresher/ campus hiring significantly in FY22. As of March 31, it has 23,814 employees.

The board of Mindtree also recommended a final dividend of ₹17.5 a share.

Published on April 16, 2021

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