Business

IT major Mindtree’s Q3 revenue rises 10%

KARNATAKA : BENGALURU : 19/03/2019 : An outside view of Mindtree campus on Mysur road in Bengaluru on Tuesday. Photo : G R N Somashekar.

KARNATAKA : BENGALURU : 19/03/2019 : An outside view of Mindtree campus on Mysur road in Bengaluru on Tuesday. Photo : G R N Somashekar.   | Photo Credit: G R N SOMASHEKAR

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Firm’s profit rises 3% to ₹197 crore

Larsen & Toubro-owned technology firm Mindtree has reported a third quarter revenue of ₹1,965.3 crore, a 10% YoY (year-on-year) and 2.7% QoQ (quarter-on-quarter) increase.

In the quarter, the company posted a net profit of ₹197 crore, a 3% YoY growth. In the previous quarter, the company had posted a profit of ₹135 crore while in the year-ago period, it was ₹191.2 crore.

Mindtree posted a total revenue of ₹1,965.3 crore, over ₹1,914.3 crore, an increase of 2.7%.

Dollar revenue down

However, it reported a 7.2% decline in its dollar revenue to $251.5 million against $271 million a quarter ago.

“We continue to execute our growth strategy, proactively incubate deals by mining strategic clients and nurture a learning-led culture. The recently concluded Annual Customer Experience Survey results depict industry-leading scores, indicating our exceptional work in delivering quality services to our clients,” said Debashis Chatterjee, CEO and managing director, Mindtree.

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Printable version | Jan 25, 2020 8:08:55 AM | https://www.thehindu.com/business/it-major-mindtrees-q3-revenue-rises-10/article30569763.ece

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