MindTree net up twofold at Rs 34.5 crore

NEW DELHI: IT firm MindTree on Wednesday posted an over twofold increase in its net profit at Rs 34.5 crore for the quarter ended June 30, 2011, driven by high operational efficiency and strong deal pipeline.

Revenue rose 18.46% to Rs 413.1 crore. “We won several marquee clients during the quarter and this is an endorsement of our revised strategy to focus on fewer segments and deliver significant value... “Our increased focus on operational efficiency and the revenue momentum has helped us offset the impact of the wage revisions during the quarter and enabled us to largely maintain the same EBITDA as the previous quarter,” MindTree CEO and MD Krishnakumar Natarajan sa