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
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The company had posted a net profit of Rs 191.2 crore in the same period last year
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In dollar terms, net profit rose 3.1 percent to $27.7 million
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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.
#3QWithCNBCTV18 | Mindtree Q3 $ revenue falls 7.2% to $251.5 m Vs $271 m (QoQ). Here are the other numbers compared on a sequential basis pic.twitter.com/YWWRJNRBn1
— CNBC-TV18 (@CNBCTV18Live) January 14, 2020
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.
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