Mid-size company Mindtree has reported a net profit growth of 6.8 per cent to ₹137 crore for the second quarter, compared to the year-ago period, on the back of increased multi-million dollar outsourcing projects.

The Bangalore-based company also was confident that it will grow revenues in the fiscal, ahead of Nasscom’s 13-14 per cent growth estimates. Analysts like Shashi Bhusan of Prabhudas Lilladher estimate that the company could clock 20 per cent yearly growth in this fiscal. However, as a policy the company does not give out an annual guidance. The company, which kicked off strong first quarter revenue growth, continued to do so with a 5.3 per cent quarterly growth to ₹888.6 crore. This was better than the previous quarter when it had posted revenues of ₹843.5 crore.

The board of directors has recommended an interim dividend of 30 per cent or ₹3 per equity share of par value of ₹10 each for the September-ended quarter.

CEO and Managing Director K K Natarajan in a call said that he was bullish about the company's deal pipeline and added that the momentum is coming largely from its ‘digital’ and ‘infrastructure’ services.

In dollar terms, net profits came in at $22.74 million, a 9.7 per cent growth compared with the same period last year and 4.9 per cent growth on a sequential basis. Revenue grew at 18.6 per cent on a yearly basis to $147.05 million. On a sequential basis, revenue growth slowed to 4.1 per cent from 6.4 per cent. Profit before tax grew 7.1 per cent on a year-on-year basis from ₹164.7 crore to ₹176.1 crore. In terms of clients, Mindtree said it has a total of 200 clients, with $30-million clients growing to 4, the $20-million clients grew to 7 and $5-million clients to 27.

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