Mindtree has reported a 4.4 per cent decline in net profit for the first quarter ended June 30, 2014, when compared with the year-ago period due to a fall in forex gains. Sequentially, the net profit rose by 31.5 per cent to Rs.129.4 crore. Revenues saw a year-on-year increase of 30.2 per cent at Rs.843.50 crore.The company held that IT spending was healthy, new clients were coming on board and the deal pipeline is healthy, all of which is reflected in the 2.4 per cent sequential growth in revenues. Despite this, the company has been cautious in projecting marginally lower revenue growth for the quarter ending September. The 12,845-strong company added 516 employees in the quarter, and attrition of the trailing 12 months is 14.2 per cent.
