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Mindtree Posts Q2 Earnings, Profit Surges 57% Year Over Year

Mindtree Foundation

For the quarter ended September, Mindtree recorded a net profit of 399 crore, up 16 percent sequentially and 57 percent year over year. The revenue of the mid-cap IT firm increased by 13 percent quarter-on-quarter (QoQ) and 34.3 percent year-on-year (YoY) to 2,586 crore. The dollar revenue of Mindtree was $350.1 million.

The Board of Directors at its meeting held on Wednesday agreed on an interim dividend of ₹10.00/- per equity share of the face value of Rs.10/- each.

It maintained a 20.5 percent EBITDA margin despite making significant investments in the domain, digital, and leadership capabilities, global presence, and hyperscale partnerships, according to the company.

As of September 30, 2021, Mindtree has 263 active clients following securing some of the most important transactions in Q2.

Meanwhile, the firm’s employee count stood at 29,732 as of September 30, 2021, with a 17.7% attrition rate over the previous 12 months.

“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. Thanks to the disciplined execution of our strategy, and the dedication of Mindtree Minds, we are well-positioned to capitalize on the strong demand environment and deliver profitable, industry-leading growth in FY22,” said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree.

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Harshita Sharma

A financial news enthusiast and a keen observer of the stock market, I bring to you all the updates from the world of business and finance. So, check out my posts and stay tuned with the major (informational) happenings.

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