1. Mindtree Q4 net falls 27 percent at Rs 97.2 crore

Mindtree Q4 net falls 27 percent at Rs 97.2 crore

Mid-sized software services firm Mindtree today posted a decline of 26.8 per cent in consolidated net profit at Rs 97.2 crore for the quarter ended March 31.

By: | Published: April 20, 2017 5:19 PM
Consolidated revenue fell marginally to Rs 1,318.1 crore in January-March from Rs 1,320.3 crore a year ago. In dollar terms, net profit fell 25.9 per cent to USD 14.4 million, while revenue grew marginally to USD 195.6 million. Constant currency growth stood at 2 percent quarter- on-quarter.

Mid-sized software services firm Mindtree today posted a decline of 26.8 per cent in consolidated net profit at Rs 97.2 crore for the quarter ended March 31. The firm had posted a net profit of Rs 132.7 crore in the year-ago period, it said in a statement. Consolidated revenue fell marginally to Rs 1,318.1 crore in January-March from Rs 1,320.3 crore a year ago.

In dollar terms, net profit fell 25.9 per cent to USD 14.4 million, while revenue grew marginally to USD 195.6 million. Constant currency growth stood at 2 percent quarter- on-quarter.

For the year ended March 31, net profit declined 24.2 per cent to Rs 418.6 crore, while revenue was up 12.1 per cent to Rs 5,236.4 crore as against the previous fiscal.

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The company had 328 active clients as of March 31. Its total headcount stood at 16,470 at the end of the said quarter. The trailing 12 months attrition stood at 15.1 per cent. The company saw contract closures of USD 926 million during the last fiscal.

“This past year, Mindtree has continued to build on its historical strength as a leader in helping clients deploy digital technologies to spur business growth,” Mindtree CEO and Managing Director Rostow Ravanan said. He added that the company has also seen a significant increase competing for large managed services opportunities.

The Board of Directors has recommended a final dividend of 30 per cent (Rs 3 per equity share) for the year ended March 31, 2017, subject to shareholder approval.

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