Mindtree Q3 results: Profit rises 3% YoY to Rs 197 crore; margins improve

The company added one client each in $25 million and $10 million categories.

Midcap IT firm Mindtree on Tuesday reported 3 per cent year-on-year (YoY) rise in consolidated profit at Rs 197 crore for the quarter ended December 30. The profit figure was up 45.93 per cent on a sequential basis.

Consolidated revenue increased 9.96 per cent on a yearly basis and 2.66 per cent on quarter-on-quarter to Rs 1,965.30 crore.

“As we continue to grow revenue, our sharp focus on driving profitable growth has resulted in expansion of operating margin by 2.6 per cent and a rise in profit by 44.7 per cent compared with the previous quarter,” said Debashis Chatterjee, CEO & Managing Director.

“We continue to execute our growth strategy, proactively incubate deals by mining strategic clients and nurture a learning-led culture. The recently concluded Annual Customer Experience Survey results depict industry-leading scores, indicating our exceptional work in delivering quality services to our clients.”

Segment-wise, revenue from retail, BFSI, high technology and travel segments witnessed a rise of 1.61 per cent, 8.17 per cent, 15.71 per cent and 9.91 per cent, respectively, in Q3FY20.

The company had 320 active clients as of December 31 and it added one client each in $25 million and $10 million categories.

Mindtree reported total headcount at 21,561 as of December 31 with trailing 12 months attrition at 17.2 per cent.




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