Mindtree Q3FY22 Results: Profit rises 9.6% QoQ to Rs 437.5 crore

IT firm Mindtree on Thursday reported a 9.6 per cent quarter-on-quarter (QoQ) rise in the consolidated profit at Rs 437.5 crore for the December 2021 quarter on the back of robust demand and aggressive customer mining. The company had posted a profit of Rs 398.9 crore in the previous quarter ended September 2021. Its profit grew 34 per cent year-on-year (YoY) from Rs 326.5 crore posted in December 2020 quarter.

The Bengaluru-based company's revenue grew 6.3 per cent to Rs 2,750 crore in the December 2021 quarter compared to a revenue of Rs 2,586 crore posted in the September 2021 quarter. In dollar terms, the company's revenue grew 4.6 per cent to $36.6 crore against $35 crore posted in the previous quarter.

At the end of the December 2021 quarter, the company's active client base stood at 265. It had 31,959 employees at the end of the third quarter with a trailing 12-month attrition at 21.9 per cent.

"We are pleased to have continued our positive revenue momentum through the third quarter of FY22 on the back of robust demand, aggressive customer mining, and end-to-end digital transformation capabilities," said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree.

He added, "Our sequential revenue growth of 5.2 per cent in constant currency reflects the strength of our strategy, execution, partnerships, and continued investments in our business and people. Our order book for the quarter was $358 million, up 14.6 per cent year-over-year, and our year-to-date deal TCV crossed $1.2 billion. Our EBITDA margin for the quarter was 21.5 per cent. In the first nine months alone, our PAT of $158.8 million surpassed the PAT of the preceding fiscal year. The passion of our future-ready talent and the trust of our clients positions us well in our endeavour to continue to deliver profitable industry-leading growth in the coming years."