1. Mindtree Q2 net up 15% at Rs 158.2 crore

Mindtree Q2 net up 15% at Rs 158.2 crore

IT firm Mindtree today posted 15.1 per cent rise in net profit at Rs 158.2 crore for the second quarter ended September 30, 2015-16.

By: | New Delhi | Published: October 15, 2015 5:26 PM
mindtree results

IT firm Mindtree today posted 15.1 per cent rise in net profit at Rs 158.2 crore for the second quarter ended September 30, 2015-16.

IT firm Mindtree today posted 15.1 per cent rise in net profit at Rs 158.2 crore for the second quarter ended September 30, 2015-16.

The mid-sized firm had posted net profit of Rs 137.4 crore in the July-September quarter of the 2014-15 fiscal.

Its revenue increased 31.6 per cent to Rs 1,169.3 crore for the second quarter, from Rs 888.6 crore in the year-ago period.

“A stellar quarter on all fronts. Our recent strong deal wins and strategic acquisitions will fuel growth and enhance our leadership in the digital space,” Mindtree CEO and Managing Director Krishnakumar Natarajan said in a statement.

These are great strides that will continue to yield impressive results for our clients in a rapidly changing business environment, he added.

In dollar terms, the Bengaluru-based firm reported a 6.8 per cent growth in net profit at USD 24.3 million and 22.6 per cent rise in revenue to USD 180.3 million.

Mindtree registered organic revenue (without acquisitions of last quarter) growth of 13.9 per cent year-on-year.

It had 296 active clients and 15,582 employees (addition of 1,801 employees gross during the quarter) as of September 30, 2015. The trailing 12 months attrition stood at 17.1 per cent.

Retail, CPG and Manufacturing accounted for Rs 240.8 crore, while BFSI and Technology, Media and Services contributed Rs 288.7 crore and Rs 355.8 crore to revenues during the quarter. Travel & Hospitality segment accounted for Rs 162.2 crore.

The Board of Directors has also recommended an interim dividend of Rs 4 per equity share (40 per cent) for the quarter.

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