NE BUSINESS BUREAU
BENGALURU (INDIA)/WARREN (NJ), JULY 14
Mindtree, a global technology services and digital transformation company, on Wednesday reported a 37.3% year-on-year growth in its consolidated net profit at Rs 471.6 crore for the quarter ending 30 June, 2022 as compared to Rs 343.3 crore in the same quarter last year.
We are excited to report a strong start to FY23 with robust Q1 revenue growth, solid margin, and a record order book.
For details, please visit: https://t.co/aisBXhMPKG#MindtreeQ1FY23, #digitaltransformation, #RedefiningPossibilities pic.twitter.com/NC1nmGQUcC
— Mindtree (@Mindtree_Ltd) July 13, 2022
Revenue from operations, meanwhile, rose 36.2% to Rs 3,121 crore as compared to Rs 2,291.7 crore in the year-ago period.
Ebit margin for the quarter came in at 19.2% as compared to 18.9% in March and 17.7% in the June quarter of 2021.
The company’s net profit at Rs 471.6 crore translated into a sequential dip of 0.3% when seen quarter-on-quarter (q-o-q).
Commenting on the excellent results, Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree, said, “We are excited to report a strong start to FY23 with robust revenue growth, solid margin, and a record order book, demonstrating our continued industry-leading growth momentum.”
“With revenues of $399.3 million, up 5.5% sequentially in constant currency on the back of a healthy demand for our digital capabilities, this was our sixth consecutive quarter of more than 5% revenue growth in constant currency,” Chatterjee further said.
The company’s highest-ever order book of $570 million reflects the relevance of Mindtree’s value proposition in delivering business-critical transformation at scale, Chatterjee said.
“Our EBITDA was 21.1%, underscoring our disciplined execution and operational rigor. Our highest-ever order book of $570 million reflects the relevance of our value proposition in delivering business-critical transformation at scale,” he added.
