Mindtree has posted strong quarterly results, on the back of deal wins and a rise in its digital business.
However, the mid-size company expects a soft third quarter due to seasonality issues but its CEO and Managing Director KK Natarajan said that there is no demand softness in its outsourcing business and the third quarter of fiscal 2016 is expected to be better than that of the 2015 fiscal Q3.
Net profit for the company stood at ₹158 crore, a 15.1 per cent rise compared with ₹137 crore in the same period last year. Revenues rose 31.6 per cent at ₹1,169.3 crore against ₹888.6 crore in the same period last year.
The board of directors has also recommended an interim dividend of ₹4 per equity share. The quarterly numbers were announced after market hours and the stock closed marginally down at ₹1,403.
On its digital business, Natarajan said that the company is seeing strong traction and the average value per deal has gone up from $220,000 to $448,000. “Our recent strong deal wins and strategic acquisitions will fuel growth and enhance our leadership in the digital space,” Natarajan said.
Retail, CPG and manufacturing accounted for ₹240.8 crore, while BFSI and technology, media and services contributed ₹288.7 crore and ₹355.8 crore to revenues during the quarter. Travel & hospitality segment accounted for ₹162.2 crore.