Midcap IT firm Mindtree on October 13 said its consolidated net profit for the quarter ended September 2022 came in at Rs 508.7 crore, growing 27.5 percent over Rs 398.9 crore in the same quarter last year.
Revenue from operations stood at Rs 3,400.4 crore, up 31.5 percent over Rs 2,586.2 crore in the corresponding quarter of the previous fiscal, the company said in an exchange filing.
Sequentially, profit grew 7.9 percent and revenue jumped 8.9 percent.
“Our robust performance in the second quarter of FY23 marked a solid first half of the year,” said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree.
“We not only delivered strong revenues of $422.1 million, up 7.2 percent sequentially in constant currency, but also maintained our EBITDA margin at a healthy 21 percent despite wage hikes across the board, making it our seventh consecutive quarter of more than 5 percent revenue growth in constant currency, and eighth consecutive quarter of more than 20 percent EBITDA margin,” Chatterjee added.
The company management said with an order book of $518 million for the quarter, its H1 signings crossed $1 billion for the first time in its history. It has 276 active clients as of September 30, 2022. $1 million+ clients increased by 15, totalling 160 and $5 million+ clients increased by 3, totalling 61.
The trailing 12 months attrition rate was 24.1 percent, among the highest in the sector. Its employee headcount stood at 38,290.
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