Mid-range IT services company Mindtree reported net profit of 398.9 crore, an increase of 57.2% year-on-year on widespread growth momentum. On a sequential basis, it increased 16.2 percent.
Revenue increased 34.3% to 2,586.2 crore year over year and 12.9% quarter over quarter. Debashis Chatterjee, CEO and Managing Director of Mindtree, said annual dollar revenue for the quarter was the highest in a decade.
“We have maintained the EBITDA margin at 20.5% while making aggressive investments in expanding our field, our digital and leadership capabilities, our geographic footprint and our large-scale partnerships,” he added. he declares. The widespread momentum and growth prospects in all verticals, service lines and geographic areas testify to our operational rigor and our desire to be a trusted partner for business transformation for our customers, he adds.
Revenue in dollars was $ 350.1 million, representing sequential growth of 12.7% and 34.1% year-on-year. Net profit was $ 54 million, an increase of 16% and 57.3% year-on-year. The Bengaluru-based IT services company has approved an interim dividend of 10 per share. Its attrition rate was 17.7 percent.
- Mindtree Sets New Highs with Strong Second Quarter FY2022 Earnings
- Mindtree expects attrition to stabilize over 2-3 quarters
- L&T Infotech profit jumps 21% in second quarter
- Infosys net income in the second quarter increased by 11.7% thanks to large contracts won
- Tech Mahindra profit increases 25.8% to 1,339 crore in second quarter