Mid-size company Mindtree has reported an 8.9 per cent growth in net profit to $15.9 million for the fourth quarter ended March 31, 2014.

The company posted revenues of $132.8 million, a growth of 17.4 per cent when compared with the same period last year and 4.4 per cent growth, on a sequential basis. The operating margin improved 200 basis points to 20 per cent compared with the previous quarter.

For the full year, the company crossed the $500-million mark in revenues, $100 million in operating profits, achieved in its 15th year. For the full year, its revenues stood at $501.5 million, a 15.1 per cent growth. Profits grew 19.3 per cent or $74.6 million for the full year.

1:1 bonus issue Mindtree shareholders have reasons to cheer as the company also announced that it plans to issue bonus shares in the ratio of 1:1, or one additional equity share for every share owned. Additionally, the board has also recommended an interim dividend of ₹5 per equity share for the 2014 fiscal year and a special dividend of ₹5 per equity share for completing 15 years.

For the fiscal 2015, Mindtree is upbeat about the outlook and feels that it has a strong momentum going forward. “We are well positioned to beat Nasscom's growth expectations going forward,” said KK Natarajan, CEO & Managing Director of Mindtree.

The company managed to sign outsourcing deals worth $133 million in the fourth quarter. At the end of March, Mindtree has 207 clients, a few lesser than March 2013-ended quarter, which the company attributes to a conscious strategy to get out of deals that are not of ‘strategic’ nature.

The only spoiler in an otherwise good set of numbers was attributed to forex losses in a second consecutive quarter. In the fourth quarter, Mindtree incurred a forex loss of $6.9 million.

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