Mindtree has started off the first quarter of 2015 with strong results, confident of beating Nasscom growth guidance but said that it will grow at a lesser pace in the second quarter.

The Bangalore-based mid-size company reported revenues of ₹843.5 crore, a 2.4 per cent sequential growth compared with ₹823.7 crore in the previous quarter. On a yearly basis, this was a 30.2 per cent growth.

Further, net profit stood at ₹129.4 crore, a 31.5 per cent growth on a sequential basis to ₹98.4 crore. However, net profit on a year-on-year basis declined by 4.4 per cent, when compared to ₹135.3 crore in the same quarter last fiscal, due to the rupee volatility.

KK Natarajan, CEO and MD, in a call said that he was bullish about the company’s deal pipeline in the backdrop of better jobs numbers coming from the US market and was confident of beating Nasscom’s annual guidance of 13-15 per cent for the 2015 fiscal.

However, the company said that in the second quarter, it expects revenue growth to be marginally slower as gains in Intellectual Property (IP) revenues cannot be sustained in the near term due to its lumpiness.

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