Mindtree Q2 results: Mindtree Q2 results: Net profit up 57.2% to Rs 399 crore


PUNE: Mid-size IT services firm reported a net profit of Rs 398.9 crore for the quarter ended September 30, 2021, up 57.2 per cent. The company’s revenue was up 34.3 per cent to Rs 2586.2 crore.

In dollar terms, net profit was up 57.3 per cent at $54 million and revenues were up 34.1 per cent at $350.1 million. The L&T group company also announced an interim dividend of Rs 10 per equity share.

“We are pleased to report yet another outstanding quarter of all-round performance,” said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree.

“Our revenues in the second quarter were $350.1 million, up 12.7 per cent sequentially and 34.1 per cent year-over-year, which was our highest YoY growth for a quarter 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 hyperscaler partnerships.”

The total number of active clients stood at 263 at the end of the quarter, with a total addition of 30 new clients, of which 5 were in the $10 million category, and three over $5million. The total headcount at the end of the quarter was 29,732 and attrition was at 17.7 per cent.

“The broad-based momentum and growth outlook across all verticals, service lines and geographies attest to our operational rigor 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,” he said.




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