NEW DELHI: IT services firm Mindtree on Monday said its consolidated net profit for the quarter ended March 2022 jumped 49.1 per cent to Rs 473.1 crore compared with Rs 317.3 crore in the same quarter last year. Sequentially, the profit figure was up 8.1 per cent.
Revenue from operations for the quarter stood at Rs 2,897.4 crore, up 37.4 per cent from Rs 2,109.3 crore in the corresponding quarter a year ago. Quarter on quarter (QoQ), the growth came in at 5.4 per cent.
The board of directors of Mindtree also recommended a final dividend of Rs 27 per equity share for the financial year ended March 31, 2022. The dividend is subject to the approval of shareholders.
“Our industry-leading growth through a year of rapid business and technology shifts demonstrates the relevance of our value proposition in reimagining businesses and driving digital transformation at scale,” said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree.
The solid growth at Mindtree comes amid some poor show by bigger names including Infosys and Tata Consultancy Services.
“We are proud to have delivered an EBITDA margin of 20.9 per cent and PAT margin of 15.7 per cent, our highest in a decade. Our commitment to creating value for shareholders is reaffirmed by an EPS of Rs 100.2, our highest-ever adjusted for bonuses, and a full year dividend of Rs 37 per share, the highest in our history,” said Chatterjee.
In dollar terms, revenue during the bygone quarter stood at $383.8 million, registering a growth of 4.8 per cent QoQ and 33.2 per cent YoY. Net profit was $62.7 million, growing 7.6 per cent QoQ and 44.8 per cent YoY.
The company said it has 276 active clients as of March 31, 2022. $5 million-plus clients increased by 4 to a total of 56 and $20 million-plus clients increased by 5 to a total of 14.
It employed 35,071 professionals as of March 31, 2022. The trailing 12-month attrition was 23.8 per cent.
