Mindtree posts 57.2% jump in Q2 net at ₹399 cr

Our Bureau Bengaluru | Updated on October 13, 2021

Debashis Chatterjee, CEO and MD

Mid-tier IT services company Mindtree reported a net profit of ₹398.9 crore, an increase of 57.2 per cent on a year on year basis on the back of broad-based growth momentum. On a sequential basis, it grew 16.2 per cent.

Revenues rose 34.3 per cent to ₹2,586.2 crore on a year on year basis and 12.9 per cent on a quarter-on-quarter basis. Debashis Chatterjee, Chief Executive Officer and Managing Director of Mindtree, said the revenues in dollar terms on a year-on-year basis for the quarter was the highest in a decade.

“We maintained EBITDA margin at 20.5 per cent while making aggressive investments in further expanding our domain, digital and leadership capabilities, geographic footprint, and hyper-scale partnerships,” he said. The broad-based momentum and growth outlook across all verticals, service lines and geographies attest to our operational rigour and sharp focus on being a trusted business transformation partner to our clients, he added.

The revenue in dollar terms was $350.1 million, a 12.7 per cent sequential growth and 34.1 per cent on a year on year basis. The net profit was $54 million, a growth of 16 per cent and 57.3 per cent on a year-on-year basis. The Bengaluru-based IT services company has approved an interim dividend of ₹10 per share. Its trailing attrition rate was 17.7 per cent.

Published on October 13, 2021

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