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Mindtree Q4 profit rises 9% to Rs 198 crore; firm announces special dividend of Rs 20


IT firm Mindtree on Wednesday posted 8.89 per cent year-on-year rise in consolidated profit at Rs 198.40 crore for quarter ended March 31. The firm had posted a profit of Rs 182.20 crore in the corresponding quarter last year.

The figure rose 3.77 per cent on a quarter-on-quarter basis.

Revenue jumped 25.64 per cent YoY to Rs 1,839.40 crore during the quarter under review. Revenue in dollar terms grew 4.2 per cent QoQ and 15.80 per cent YoY to $262 million.

“Mindtree has delivered exceptional performance for both the fourth quarter and the full fiscal year as we cross the historic $1 billion milestone. Over the course of two decades our strategy of being expertise-led and backed by a unique culture continues to help us attract world class people and create customer successes,” said Rostow Ravanan, CEO & Managing Director, Mindtree.

“Our ability to consistently grow significantly faster than the sector is a reflection of the investments we have made to align with technology trends disrupting our industry. We are well-poised to continue delivering industry leading returns for all our stakeholders, the best is yet to come,” he said.

The board also declared an interim dividend of Rs 3 per equity share of par value Rs 10 each. The record date for the payment of interim dividend will be April 27, 2019. This will be paid to the registered shareholders before May 10, 2019.

The company also recommended a final dividend of Rs 4 per equity share and a special dividend of Rs 20 per equity share to celebrate the twin achievements of exceeding $1 billion annual revenue milestone.

The final dividend and the special dividend are payable subject to the approval of shareholders at the twentieth annual general meeting.

Source: Economic Times