Mindtree Q3 results: Net Profit rises to 66% with Rs 326.5 crores

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Larsen & Turbo based IT firm, Mindtree declared on 18th January, a 66% YoY increase in net profit to Rs 326.5 crore for Q3 FY21. On a sequential basis, the net profit was up 28.7%

In dollar terms, net profit was up 59.3% at $44.2 million and revenues were down marginally by 0.4% at $274.1 million. The federate revenue rose marginally by 3% to Rs 2,023.7 crore in Q3 FY21 from Rs 1,965.3 crore in the year-ago period and stood at Rs 1,926 crore in the September quarter of 2020.

The Bengaluru-headquarted company added eight new clients during the quarter and had 276 active clients at the end of the quarter. It even had 2,21,195 employees at the end of the December quarter with trailing 12-months attrition was at 12.5%.

“Our 4x4x4 strategy is showing strong demand across the sectors, and we expect the growth momentum to continue in the coming quarters,” said Debashis Chatterjee, CEO of Mindtree. “We are witnessing strong business momentum across all verticals with significant demand for cloud, data and analytics capabilities. We continue to capitalize on the evolving market dynamics with solutions that help enterprises navigate the new normal and grow their businesses. Thanks to the strategic focus and hard work of our Mindtree Minds, we are now well-positioned to continue delivering profitable growth,” he added.