Mindtree Q3 net profit up 3% to Rs 197 cr; revenue rises 10% to Rs 1,965 cr

IT firm Mindtree on Tuesday reported a 3 percent rise in consolidated net profit at Rs 197 crore for the December 2019 quarter

Press Trust of India January 14, 2020 16:59:35 IST
Mindtree Q3 net profit up 3% to Rs 197 cr; revenue rises 10% to Rs 1,965 cr
  • The company had posted a net profit of Rs 191.2 crore in the same period last year

  • In dollar terms, net profit rose 3.1 percent to $27.7 million

  • In July last year, Larsen and Toubro (L&T) had acquired control of Mindtree with 60.06 percent stake

New Delhi: IT firm Mindtree on Tuesday reported a 3 percent rise in consolidated net profit at Rs 197 crore for the December 2019 quarter.

The company had posted a net profit of Rs 191.2 crore in the same period last year, Mindtree said in a regulatory filing.

The Bengaluru-based company saw its revenue grow about 10 percent to Rs 1,965.3 crore in the quarter under review from Rs 1,787.2 crore in the year-ago period, it added.

In dollar terms, net profit rose 3.1 percent to $27.7 million, while revenue increased 9.4 percent to $275.2 million in the said quarter over the year-ago period.

In July last year, Larsen and Toubro (L&T) had acquired control of Mindtree with 60.06 percent stake.

At the end of December 2019 quarter, the company's active client base stood at 320. It had 21,561 employees at the end of the third quarter with trailing 12-months attrition at 17.2 percent.

"As we continue to grow revenue, our sharp focus on driving profitable growth has resulted in the expansion of operating margin by 2.6 percent and a rise in net profit by 44.7 percent as compared to the previous quarter," Mindtree CEO and Managing Director Debashis Chatterjee said.

He added that the company continues to execute its growth strategy, proactively incubate deals by mining strategic clients and nurture a learning-led culture.

Updated Date:

also read

Trailer Promise: Raksha Bandhan will eradicate Akshay Kumar’s lean phase
Entertainment

Trailer Promise: Raksha Bandhan will eradicate Akshay Kumar’s lean phase

Raksha Bandhan fills a lacuna in the mainstream classifications of entertainment. Akshay Kumar seems to channelize the brother in himself with some genuine emotions lacking in his last two outings.

Akshay Kumar’s Raksha Bandhan to release on this date, check details
Entertainment

Akshay Kumar’s Raksha Bandhan to release on this date, check details

Directed by Aanand L Rai, Akshay Kumar's Raksha Bandhan also features Bhumi Pednekar. The two actors have reunited after the success of Toilet: Ek Prem Katha. It is to be noted that the film will be clashing with Aamir Khan and Kareena Kapoor’s Laal Singh Chaddha.

Uttar Pradesh: 6 dead, 6 injured in road accident in Lucknow
India

Uttar Pradesh: 6 dead, 6 injured in road accident in Lucknow

A loader truck carrying 12 people, collided with an oil tanker on the Harauni-Mohan road while trying to overtake it, killing six people and injuring six others, said police