Mindtree March quarter net up 87.5pct

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Bengaluru | Published: April 19, 2018 2:23:59 AM

The revenue of the company for the January-March period at Rs 1,464 crore implied an 11% growth compared to the same period last year.

mindtree, mindtree march qtr, mindtree net profit marchBengaluru-based IT services company Mindtree reported a net profit of Rs 182.2 crore for the quarter ended March 31, 2018, registering a growth of 87.5%, compared to the corresponding period last year. (PTI)

Bengaluru-based IT services company Mindtree reported a net profit of Rs 182.2 crore for the quarter ended March 31, 2018, registering a growth of 87.5%, compared to the corresponding period last year. The company attributes the strong financial performance to the multiple large deal wins it had in the quarter. The revenue of the company for the January-March period at Rs 1,464 crore implied an 11% growth compared to the same period last year.

“We ended the year on a strong note and see that momentum creating a healthy start to our new fiscal year. It’s especially heartening that our client satisfaction ratings reached an all-time high, setting the benchmark in our industry,” said Rostow Ravanan, CEO and managing director, Mindtree. For the full fiscal ended March 31, 2018, Mindtree reported a net profit of Rs 570.1 crore, a 36.2% increase against the same period last year. The overall revenue for the year grew 4.3% to Rs 5,462.8 crore.
“Our enduring strategic investments in expertise for Domain, Digital and Run are clearly recognised by the market.

The further success of our large deal focus reflects the need for Global 2000 businesses to marry large scale with agility. Mindtree is in that sweet-spot,” added Ravanan. Mindtree in its statement also said the attrition for the trailing 12 months was 12.5% and the company had a total employee strength of 17,723 as on March 31, 2018.

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