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earnings | IST

Will deliver FY22 EBITDA margin as promised; eyeing robust deal pipeline: Mindtree

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Mindtree on Wednesday reported better-than-expected revenues and margins for the second quarter. The midcap IT firm reported a net profit of Rs 399 crore for the quarter ended September 30, up 16.2 percent QoQ.

Mindtree CEO Debashis Chatterjee on Thursday said that the company is confident of delivering the EBITDA margin that it has promised for the financial year 2022.
“As far as EBITDA is concerned, there are enough controls, checks and balances that we have been putting in the system, which make us believe that it will be up. But at an overall fiscal level, we should be able to deliver the EBITDA as promised,” he said in an interview with CNBC-TV18.
Mindtree on Wednesday reported better-than-expected revenues and margins for the second quarter. The midcap IT firm reported a net profit of Rs 399 crore for the quarter ended September 30, up 16.2 percent QoQ. The revenue in dollar terms grew 12.8 percent sequentially to $350.1 million for Q2FY22 and 13.4 percent in constant currency terms.
The management also guided for industry-leading revenue growth in FY22.
"We want to continue on our journey of profitable growth and a double-digit growth this fiscal," Chatterjee said.
Throwing more light on the deal wins, he said the book is up almost 19 percent year on year. “We have an order book for $360 million. So from that perspective, we are very confident that the pipeline will convert into an order book as we go along... If you look at the strategy that we have adopted, we are focusing on a selected set of clients, doing a lot of upselling and cross-selling and that strategy is working out very well,” he stated.
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“If you look at the top-line growth, it has been 12.8 percent year over year. So top-line clients continue to grow. But our focus is mining the next set of clients and I am really happy with the growth that we have which is almost a 19 percent quarter on quarter,” said Chatterjee.
Talking about attrition, he said it is an industry phenomenon and that the company is taking enough initiatives within the organisation from a talent engagement standpoint. “The kind of transformation work that we are doing would help people to be excited to be part of Mindtree. So there are a lot of other aspects of controlling attrition and managing talent engagement. We are doing innovative things in that area,” he said.
Watch the accompanying video for the full interview