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Mindtree quarterly net surges 31% as biz grows across all platforms

Mindtree quarterly net surges 31% as biz grows across all platforms
Mid-sized software services firm Mindtree on Thursday reported a 31 per cent growth in consolidated net profit at Rs 128.7 crore for the quarter ended March 31, 2015, driven by expansion in business across all platforms. The firm had posted a net profit of Rs 98.2 crore in the year-ago period, it said in a statement.

Consolidated revenue rose 11.5 per cent to Rs 918.1 crore in the January-March quarter from Rs 823.7 crore a year ago, it added. In terms of US dollars, net profit rose 30.5 per cent to $20.7 million while revenue jumped 11 per cent to $147.8 million. However, on a quarter-on-quarter (q-o-q) basis, its net profit declined 8.6 per cent from Rs 140.8 crore in the October-December quarter. Revenue was up marginally from Rs 911.7 crore during the same period. For 2015-16, Mindtree said it expects revenue growth to be in the range of 12-14 per cent, below Nasscom’s estimate of 13-15 per cent for the current fiscal. Speaking to reporters during a concall, Mindtree Managing Director and CEO Krishnakumar Natarajan said: “We delivered an industry-leading performance with a revenue growth of 16.4 per cent for 2014-15. In this, our expertise in agile, analytics, cloud and Internet of Things (IoT) is making deep impact.”

For the entire 2014-15 fiscal, the firm reported a 19 per cent growth in net profit at Rs 536.3 crore from Rs 450.8 crore in the year-ago period. Revenue was up 17.5 per cent at Rs 3,561.9 crore from Rs 3,031.6 crore in the same period.

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