HomeBusinessMindtree Q1 results: Net profit jumps 37% to Rs 472 Cr

Mindtree Q1 results: Net profit jumps 37% to Rs 472 Cr

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

Revenue from operations was at Rs 3,121.1 crore, rising 36.2 per cent YoY from Rs 2,291.7 crore. Sequentially it rose 7.7 per cent from Rs 2,897,4 crore.

Debashis Chatterjee, Chief Executive Officer and Managing Director (Mindtree) said “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,”

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He said with revenues of $399.3 million, up 5.5 per cent sequentially in constant currency on the back of healthy demand for our digital capabilities, this was the company’s sixth consecutive quarter of more than 5 per cent revenue growth in constant currency.

The company said its EBITDA margin stood at 21.1 per cent.

The order book of the company stood at $570 million. As of June end, it has 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 per cent. Its employee headcount stood at 37,455.

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Ankush Kumar
Ankush Kumarhttps://www.marketmoney.in
Ankush Kumar is the Founder of Market Money. He is an expert in Banking and Finance. He has appeared in B.Com (Banking & Finance) From Govt. College in Lucknow.

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