MindTree Q1 Results: Profit increases 37% YoY to Rs 472 cr; revenue jumps 36%
IT firm Mindtree on Wednesday reported 37% increase in consolidated net profit at Rs 472 crore for the quarter ending June 30, 2022 as against Rs 343 crore in the year-ago period.
The Bengaluru-headquartered firm's consolidated revenue from operations rose 36% to Rs 3,121 crore as compared to Rs 2,292 crore in June 2021.
On Wednesday, the company's scrip on BSE closed 1.5% higher at Rs 2,899.
“We are excited to report a strong start to FY23 with robust revenue growth, solid margin, and a record order book, demonstrating our continued industry-leading growth momentum,” said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree. “With revenues of $399.3 million, up 5.5% sequentially in constant currency on the back of a healthy demand for our digital capabilities, this was our sixth consecutive quarter of more than 5% revenue growth in constant currency. Our EBITDA was 21.1%, underscoring our disciplined execution and operational rigor. Our highest-ever order book of $570 million reflects the relevance of our value proposition in delivering business-critical transformation at scale. We are proud of our dedicated teams who continue to exceed client expectations with passion and purpose.”