Mindtree logs 78 per cent Q2 profit increase
17 Oct 2013 6:08 AM IST
Mid-sized IT firm Mindtree on Wednesday said its net profit rose by 77.8 per cent to Rs 128.7 crore for the September quarter on the back of a strong growth in manufacturing and retail vertical.
Mindtree's net profit stood at Rs 72.4 crore for the July-September 2012 quarter. Revenues for the reported quarter grew 29.2 per cent to Rs 769.5 crore from Rs 595.3 crore in the same period last fiscal.
'This is the second consecutive quarter of strong revenue growth. This is the result of relentless execution of our new strategies and we continue to invest in expertise-led solutions and attracting top quality industry talent,' Mindtree CEO and managing director Krishnakumar Natarajan told reporters on a conference call.
However as compared to April-June 2013 quarter, Mindtree's net profit declined 4.9 per cent (from Rs 135.4 crore) due to higher forex gain in the first quarter.
Mindtree's net profit stood at Rs 72.4 crore for the July-September 2012 quarter. Revenues for the reported quarter grew 29.2 per cent to Rs 769.5 crore from Rs 595.3 crore in the same period last fiscal.
'This is the second consecutive quarter of strong revenue growth. This is the result of relentless execution of our new strategies and we continue to invest in expertise-led solutions and attracting top quality industry talent,' Mindtree CEO and managing director Krishnakumar Natarajan told reporters on a conference call.
However as compared to April-June 2013 quarter, Mindtree's net profit declined 4.9 per cent (from Rs 135.4 crore) due to higher forex gain in the first quarter.
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