Industry

Mindtree net up 54%, to pay ₹17.5 dividend

Larsen & Toubro-owned Mindtree reported a 2.8% (q-o-q) decline and 53.9% (y-o-y) increase in net profit to ₹317.3 crore for the quarter ended March.

The firm posted a revenue of ₹2,109.3 crore — a growth of 4.2% and 2.9% growth q-o-q and y-o-y, respectively.

In dollar terms, Q4 revenue at $288.2 million grew at 5.2% q-o-q and 3.5% YoY. Though net profit, at $43.3 million indicated a decline of 1.9% QoQ, it grew 53.4% y-o-y, the company said.

For the full fiscal, Mindtree posted revenues of ₹79,67.8 crore, a 2.6% growth over last year, while net profit at ₹11,10.5 crore rose 76.0%. Revenue in dollar terms at $1,076.5 million showed a decline of 1.1%, but net profit jumped 69.6% at $150.0 million.

“For the year, we delivered revenues of $1,076.5 million and margin expansion of 680 bps, while increasing our order book by 12.3%. As we enter FY22, we are confident that continued client demand for our transformative services, a strong order book and our strategic investments [will] position us well to deliver double-digit growth,’’ Debashis Chatterjee, said CEO and MD.

Mindtree reported low attrition of 12.1% and a high employee utilisation rate in Q4.

The company said it would ramp up its fresher/campus hiring significantly in FY22. As of March 31, it has 23,814 employees.

The board of Mindtree recommended a final dividend of ₹17.5 per share.

“The final dividend of ₹17.5 per share we announced reinforces our commitment to enhancing shareholder value,’’ added Mr. Chatterjee.

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Printable version | May 18, 2021 2:24:38 AM | https://www.thehindu.com/business/Industry/mindtree-net-up-54-to-pay-175-dividend/article34339055.ece

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