Mindtree posts robust quarterly performance on the back of healthy deal wins
Last Updated: 14th January 2022 - 03:36 pm
Revenues rise by 5.2% and profitability is up by 9.7% on a sequential basis.
Mindtree Ltd, a digital solutions and technology services company, yesterday announced its results for the quarter ended December 2021. This IT company witnessed a strong growth momentum in the quarter.
As of Q3 FY2022, the total contract value (TCV) has crossed the Rs 9,000 crore mark YTD. The company’s consolidated revenues came in strong at Rs 2,750 crore which saw sequential growth of 6.33% and 5.2% on a constant currency basis. The YoY growth in revenues stood at 35.89%. The operating profit of the company stood at Rs 528.9 crore which saw a sequential rise of 12.6%. The operating profit margin expanded by 100 bps on the back of operational efficiencies and currency benefits.
The net profit came in at Rs 437.50 crore which registered a growth of 9.68% on a QoQ basis and 34% YoY basis. The PAT margin expanded by nearly 50 bps over the previous quarter to reach 15.9%.
“We are pleased to have continued our positive revenue momentum through the third quarter of FY22 on the back of robust demand, aggressive customer mining, and end-to-end digital transformation capabilities,” said Debashis Chatterjee, CEO and MD, Mindtree.
Some of the key highlights of the quarter were that the company acquired 265 active clients as of December 2021. Its cash and investments have been at an all-time high of Rs 3,072 crore. The company has a strong record of ROE and ROCE, which came in at 36.2% and 44.5%, respectively as of Q3 FY22. The company’s largest business segment by revenues- communication, media and technology, witnessed a strong growth of 6.1% on a QoQ basis and 24.5% on a YoY basis.
This technology solutions company has been a multibagger in the trailing year. It has delivered a massive return of 160%. The stock has a 52-week high and low of Rs 5,059.15 and Rs 1,539.85 respectively.
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