Mindtree March quarter net jumps 8.9% at Rs 198 cr; board declares special dividend of 200%

  • The Bengaluru-based company's revenue also increased by 25.6% to Rs 1,839.4 crore in the March quarter

  • Mindtree has delivered exceptional performance for both the fourth quarter, its CEO said

  • Mindtree's FY'19 net profit grew 32.2% to Rs 754.1 crore, while revenue was up 28.5% to Rs 7,021.5 crore

New Delhi: Mid-sized IT firm Mindtree on Wednesday said its consolidated net profit grew 8.9 percent to Rs 198.4 crore for the March 2019 quarter, from Rs 182.2 crore in the year-ago period.

 Mindtree March quarter net jumps 8.9% at Rs 198 cr; board declares special dividend of 200%

A file photo of Rostow Ravanan. Reuters

The Bengaluru-based company's revenue also increased by 25.6 percent to Rs 1,839.4 crore in the said quarter, as compared to Rs 1,464 crore in the year-ago period, Mindtree said in a regulatory filing.

Mindtree, which is facing a hostile takeover bid by infrastructure giant L&T, said its board has also declared an interim dividend of Rs 3 per equity share, and recommended a special dividend of 200 percent (Rs 20 a share) to "celebrate the twin achievements of exceeding $1 billion annual revenue milestone and 20th anniversary of the company" subject to shareholders' nod.

"Mindtree has delivered exceptional performance for both the fourth quarter and the full fiscal year as we cross the historic $1 billion milestone. Over the course of two decades our strategy of being expertise-led and backed by a unique culture continues to help us attract world class people and create customer successes," Mindtree CEO and managing director Rostow Ravanan said.

He added that the company is "well-poised to continue delivering industry leading returns for all our stakeholders, the best is yet to come".

Mindtree's FY'19 net profit grew 32.2 percent to Rs 754.1 crore, while revenue was up 28.5 percent to Rs 7,021.5 crore from the previous fiscal.

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .

Updated Date: Apr 17, 2019 17:31:06 IST