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IT firm Mindtree gains 35 percent in December quarter


Devdiscourse News Desk new delhi India
Updated: 16-01-2019 18:37 IST
IT firm Mindtree gains 35 percent in December quarter

Mindtree said its digital business in the quarter under review grew 32.4 per cent year-on-year.

Mid-sized IT firm Mindtree Wednesday posted 35.1 per cent rise in consolidated net profit at Rs 191.2 crore for the December 2018 quarter as against the year-ago period. The Bengaluru-based firm had registered a net profit of Rs 141.5 crore during October-December 2017, Mindtree said in a BSE filing. Mindtree saw its revenue grow 29.7 per cent to Rs 1,787.2 crore in the reported period from Rs 1,377.7 crore in December 2017 quarter. In dollar terms, the net profit was up 22.2 per cent to USD 26.9 million, while revenue increased 17.4 per cent to USD 251.5 million in the December 2018 quarter as against the year-ago period.

"Our consulting first approach combined with deep technology and domain expertise are helping our clients drive enterprise-wide transformations," Mindtree CEO and Managing Director Rostow Ravanan said. He added that this has also helped the company sustain its growth momentum, even in a seasonally weak quarter. "Our continuous investments in our people further strengthen our ability to create sustainable value for all stakeholders," he said. The board of directors has recommended an interim dividend of Rs 3 per equity share. In the December 2018 quarter, Mindtree had 340 active clients. Its headcount stood at 19,908 with trailing 12-month attrition at 13.4 per cent. Mindtree said its digital business in the quarter under review grew 32.4 per cent year-on-year.

(With inputs from agencies.)

COUNTRY : India

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