mindtree: Mindtree Q4 net profit jumps 49% to Rs 473 crore – Times of India

NEW DELHI: IT firm Mindtree on Monday stated it has registered a 49.1 per cent leap in its consolidated web revenue at Rs 473.1 crore within the fourth quarter of FY22 in comparison with the year-ago interval.
The corporate had recorded a web revenue of Rs 317.3 crore in the identical interval of the earlier fiscal.
Mindtree’s consolidated income from operations grew by 37.4 per cent to Rs 2,897.4 crore throughout January-March 2022 from Rs 2,109.3 crore within the corresponding quarter of 2020-21.
For the monetary 12 months 2021-22, consolidated web revenue of Mindtree grew by 48.8 per cent to Rs 1,652.9 crore from Rs 1,110.5 crore on the finish of economic 12 months 2020-21.
The consolidated income of Mindtree rose to 10,525.3 crore on the finish of 2021-22 from Rs 7,967.8 crore a 12 months in the past.
“Our full 12 months income progress of 31.1 per cent validates our technique to capitalise on rising demand by diversifying our providers portfolio, mining clients, and broadening {industry} partnerships. We’re proud to have delivered an EBITDA margin of 20.9 per cent and PAT margin of 15.7 per cent, our highest in a decade,” Mindtree chief govt officer and managing director Debashis Chatterjee was quoted as having stated in a press release.
Throughout the firm’s earnings name, Chatterjee stated a full 12 months dividend of Rs 37 per share introduced by the corporate is the very best in its historical past.
About the potential of the corporate’s merger with L&T Infotech, he stated it’s a hypothesis.
Speaking concerning the impression of the worldwide geopolitical scenario on enterprise from Europe, Chatterjee stated that the corporate would not see any important softness in enterprise from the area in close to time period, and it is usually scaling up improvement centres situated there.
North America accounted for 76.6 per cent of Mindtree’s income in the course of the March 2022 quarter with progress of 28 per cent year-on-year.
Whereas solely 7.1 per cent of Mindtree income got here from Europe, it was the very best progress area for the corporate with 69.2 per cent year-on-year enhance in enterprise.
Attrition on the firm in the course of the reported quarter elevated to 23.8 per cent.
“Attrition continues to be an industry-wide challenge. We count on the scenario to regularly stabilise over subsequent two quarters and finally come down,” Chatterjee stated.
Communications, media and know-how have been the largest income earners for the corporate with 45.8 per cent share within the general pie in the course of the reported quarter.
Chatterjee additionally stated that Mindtree ended the 12 months with an order e-book of $1.6 billion, up by 16.7 per cent year-on-year.
“We’re rising funding in metaverse options and capabilities to increase our design considering management into an built-in consulting-led metaverse providing,” he added.

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