Mindtree posts Q3 profit of Rs 437 crore

New Delhi: IT firm Mindtree reported a 34 per cent rise in net profit at Rs 437.5 crore for the December 2021 quarter on the back of robust demand and aggressive customer mining.

The company had posted a net profit of Rs 326.5 crore in the same period last year, Mindtree said. The Bengaluru-based company saw its revenue grow about 36 per cent to Rs 2,750 crore in the quarter under review from Rs 2,023.7 crore in the year-ago period, it added.

In dollar terms, net profit rose 32.1 per cent to USD 58.3 million, while revenue increased 33.7 per cent to USD 366.4 million in the said quarter over the yearago period. At the end of December 2021 quarter, the company’s active client base stood at 265. It had 31,959 employees at the end of the 3rd quarter with trailing 12-month attrition at 21.9 per cent.

“We are pleased to have continued our positive revenue momentum through the third quarter of FY22 on the back of robust demand, aggressive customer mining, and end-to-end digital transformation capabilities,” Mindtree CEO and MD Debashis Chatterjee said. He added that the company’s sequential revenue growth of 5.2 per cent in constant currency reflects the strength of its strategy, execution, partnerships, and continued investments in its business and people. “Our order book for the quarter was USD 358 million, up 14.6 per cent yearover- year, and our yearto- date deal TCV (total contract value) crossed USD 1.2 billion. Our EBITDA margin for the quarter was 21.5 per cent,” he said. In nine months alone, Mindtree’s PAT (Profit After Tax) of USD 158.8 million surpassed PAT of the preceding fiscal year. “The passion of our talent and the trust of our clients position us well in our endeavor to deliver profitable industry- leading growth in the coming years,” he added.