Mindtree Q4 net profit up 54% to Rs 317.3 cr

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New Delhi: IT firm Mindtree on Friday said its consolidated net profit rose 53.9% to Rs 317.3 crore for the three months ended March. Its net profit was at Rs 206.2 crore in the year-ago period, Mindtree said in a statement.

The Bengaluru-based company’s revenue increased by 2.9% to Rs 2,109.3 crore in the fourth quarter of the current fiscal. It stood at Rs 2,050.5 crore in the same period a year ago.

In dollar terms, the net profit was up 53.4% at $43.3 million while revenue was higher by 3.5% at $288.2 million compared to the year-ago period.

“We are proud to deliver another strong quarter, driven by significant traction in our client portfolio globally, leading to revenue growth of 5.2%, EBITDA of 21.9%, and an order book of $375 million at the end of Q4,” Mindtree Chief Executive Officer and Managing Director Debashis Chatterjee said.

He noted that the company’s journey of profitable growth and seamless delivery during the pandemic year has been “made possible by the resilience of Mindtree Minds, the commitment of our leadership team, and above all, the continued support of our clients”.

Chatterjee also said the final dividend of Rs 17.5 per share announced reinforces Mindtree’s commitment to enhance shareholder value.

“For the year, we delivered revenues of $1,076.5 million and margin expansion of 680 basis points while increasing our order book by 12.3%.

“As we enter FY22, we are confident that continued client demand for our transformative services, a strong order book, and our strategic investments position us well to deliver double-digit growth and sustain EBITDA above 20%,” he said.

Mindtree’s FY’21 net profit grew 76% to Rs 1,110.5 crore while revenue was up 2.6% at Rs 7,967.8 crore compared to the previous fiscal.

At the end of March, the company had 23,814 employees and its trailing 12-month attrition was at 12.1%. Its active client base was at 270 as of March 31, 2021.