MindTree doubled its net profit in 2011-12 to Rs.689 crore from Rs.320 crore in 2010-11. The company earned revenues of Rs.19,152 crore, an increase of 27 per cent over the previous year.

However, segment-wise results showed that the company's earnings from product engineering services remained stagnant, especially during the fourth quarter. Income from this segment, which accounts for about one-third of total revenues, grew at less than 5 per cent during the year.

But this was more than compensated by growth in revenues from IT services which grew at 43 per cent — from Rs.8,783 crore to Rs.12,558 crore.

MindTree CEO and Managing Director Krishnakumar Natarajan said the company's “back to the basics” approach, focussing on select verticals, resulted in improved margins.


Mindtree Q4 net drops 20 %April 22, 2013

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