Mindtree Q3 net rises 34% to ₹438 crore

IT major to tap tier 2, 3 cities

Mindtree’s net profit for the third quarter ended December rose 34% year-on-year to ₹437.5 crore while revenue grew YoY 35.9% to ₹2,750 crore.

Debashis Chatterjee, CEO and and MD on Thursday said, the company could continue its positive revenue momentum through Q3 on the back of robust demand, aggressive customer mining, increased utilisation, and end-to-end digital transformation capabilities.

“Our sequential revenue growth of 5.2% 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% year-over-year, and our year-to-date deal TCV crossed $1.2 billion,’’ he said. In the first nine months, its PAT of $158.8 million surpassed PAT of the preceding fiscal year.

Mindtree onboarded 4,500 new recruits in Q3, taking total headcount to 32,000. As part of its ‘Work of the Future’ strategy, Mindtree said it would tap into tier 2 and 3 cities, by setting up offices in Coimbatore and Warangal.

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