Mindtree Q1 results | Net profit jumps 37% to Rs 472 crore

Mindtree

IT services firm Mindtree on July 13 said its net profit for the quarter ended June stood at Rs 471.6 crore, up 37.3 percent year-on-year (YoY) against Rs 343.4 crore in the year-ago period. On a sequential basis, the numbers were flat.

Revenue from operations came in at Rs 3,121.1 crore, up 36.2 percent YoY from Rs 2,291.7 crore. Sequentially, it rose 7.7 percent from Rs 2,897,4 crore.

“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.

Chatterjee added that with revenues of $399.3 million, up 5.5 percent sequentially in constant currency (CC) on the back of healthy demand for its digital capabilities, this was the company’s sixth consecutive quarter of more than 5 percent revenue growth.

The company said its EBITDA margin stood at 21.1 percent.

Source: Mindtree

The order book of the company stood at $570 million. As of June end, it hasd 274 active clients. It added three $10 million+ clients taking the total to 35 and four $20 million+ clients taking the total to 18 during the quarter.

The trailing 12-month attrition rate – the rate at which employees leave a company – was 24.5 percent. Its employee headcount stood at 37,455.