Mindtree Q1: Net Profit, Revenue Jump; Posts Highest-Ever Order Book

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Mindtree Q1: Net Profit, Revenue Jump; Posts Highest-Ever Order Book
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The mid-tier IT services company MindTree (NS: MINT ) released its earnings result for June 2022 ending quarter post-market hours on Wednesday, reporting a 37.3% YoY jump in consolidated net profit at Rs 472 crore, and a muted performance compared to the previous quarter.

The company’s revenue from operations surged 36.2% YoY and 7,7% QoQ to Rs 3,121 crore. 

Its EBITDA margin in the quarter under review stood at 21.1%, compared to 21% in the last quarter and 20.3% in the year-ago quarter, while the EBIT margin climbed to 19.2% in the June 2022 quarter, against 18.9% in Q4 FY22 and 17.7% in Q1 FY23. 

Mindtree’s MD & CEO Debashis Chatterjee noted, “We are excited to report a strong start to FY23 with robust revenue growth, solid margin, and a record order book, demonstrating our continued industry-leading growth momentum.”

The IT major’s revenue in constant currency terms rose 5.5% QoQ to $399.3 million, thanks to a healthy demand for our digital capabilities, and the June 2022 quarter was the sixth consecutive quarter of the company reporting over 5% revenue growth in cc.

The June 2022 quarter also witnessed the IT major’s highest ever order book of $570 million, solidifying its value proposition in delivering business-critical transformation at scale. 

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  • Gajendra Shetter @Gajendra Shetter
    Only the better performance can preserve the stability. There are no any boosting sentiments in the market.
    Like 0
  • Chand Ratan Bagree @Chand Ratan Bagree
    unexpected.wow good result
    Like 0
  • Chand Ratan Bagree @Chand Ratan Bagree
    unexpected.wow good result
    Like 0
  • Prabhakar Ravindra Maharana @Prabhakar Ravindra Maharana
    good
    Like 0
  • Saurabh Kumar Srivastwa @Saurabh Kumar Srivastwa
    Good to see the growth of Mindtree which will boost IT sector
    Like 0
  • Saurabh Kumar Srivastwa @Saurabh Kumar Srivastwa
    Good to see the growth of Mindtree which will boost IT sector
    Like 0

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