Technology consulting and services company Mindtree today reported a consolidated net profit of Rs 437.5 crore, up 9.7 percent quarter-on-quarter and 34 percent year-on-year, while revenue stood at Rs 2,750 crore after a 6.3 percent growth QoQ (35.9 percent YoY), in its consolidated earnings report for the quarter ended December 31, 2021.
In dollar terms, the consolidated revenue stood at $366.4 million (up 4.7 percent QoQ and 33.7 percent YoY), while net profit was $58.3 million (up 8 percent QoQ and 32.1 percent YoY).
In the report, Mindtree said its earnings before interest and taxes (EBIT) stood at Rs 5,289 crore, at a margin of 19.2 percent for the latest quarter--a 1 percent QoQ increase. The company's EBIT grew 12.6% QoQ, or Rs 601 crore. Mindtree's earnings before interest, taxes, depreciation, and amortisation (EBIDTA) stood at Rs 5,921 crore--up Rs 614 crore, or 11.6%, QoQ.
Mindtree reported a profit after tax (PAT) of Rs 4,375 crore, which was a increase of Rs 386 crore (6.3%) QoQ.
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The company reported free cash flow of Rs 4,595 crore, and cash and investments to the tune of Rs30,723 for the quarter in question.
In the quarter, Mindtree had deals worth $358 million as against $360 million the preceding quarter. As of December 31, the company reported 265 active clients. It added two clients in the Rs5+ million bracket, taking the total to 52, and three $10+ million clients for a total of 33.
As of the latest quarter, the company's total strength stood at 31,959 -- 30,338 software professionals, 392 S&M and 1,229 G&A staffers. The company said women employees held steady at 32 percent of its workforce and that it was represented by 81 nationalities in the latest quarter. The company also reported a trailing twelve months (TTM) attrition rate of 21.9 percent, a 4.2 percent QoQ increase
Earlier in the day, MindTree shares traded lower, down almost 2 percent from the day's high, ahead of the quarterly earnings report. MindTree stock price was quoted at Rs 4,612.25 apiece on NSE, down half a percent on NSE at 11.12 am. The stock opened at Rs 4,650 and touched the day's high at Rs 4,728.90. The day's low came in at Rs 4,581.
(Edited by : Vijay Anand)
First Published: IST