Its dollar revenue grew 5.2% QoQ `Well positioned to deliver double-digit growth’
Larsen & Toubro-owned Mindtree reported a 2.8% (q-o-q) decline and 53.9% (y-o-y) increase in net profit to ₹317.3 crore for the quarter ended March.
The firm posted a revenue of ₹2,109.3 crore — a growth of 4.2% and 2.9% growth q-o-q and y-o-y, respectively.
In dollar terms, Q4 revenue at $288.2 million grew at 5.2% q-o-q and 3.5% YoY. Though net profit, at $43.3 million indicated a decline of 1.9% QoQ, it grew 53.4% y-o-y, the company said.
For the full fiscal, Mindtree posted revenues of ₹79,67.8 crore, a 2.6% growth over last year, while net profit at ₹11,10.5 crore rose 76.0%. Revenue in dollar terms at $1,076.5 million showed a decline of 1.1%, but net profit jumped 69.6% at $150.0 million.
“For the year, we delivered revenues of $1,076.5 million and margin expansion of 680 bps, while increasing our order book by 12.3%. As we enter FY22, we are confident that continued client demand for our transformative services, a strong order book and our strategic investments [will] position us well to deliver double-digit growth,’’ Debashis Chatterjee, said CEO and MD.
Mindtree reported low attrition of 12.1% and a high employee utilisation rate in Q4.
The company said it would ramp up its fresher/campus hiring significantly in FY22. As of March 31, it has 23,814 employees.
The board of Mindtree recommended a final dividend of ₹17.5 per share.
“The final dividend of ₹17.5 per share we announced reinforces our commitment to enhancing shareholder value,’’ added Mr. Chatterjee.