Mindtree Q2FY22 Results: Mid-cap IT firm posts strong numbers – Net profit up 57%; revenue surges 34% YoY - Check interim dividend
Being the first company to report quarterly results in the mid-cap category, Mindtree on Wednesday reported better than expected second-quarter earnings for the financial year 2021-22.
Being the first company to report quarterly results in the mid-cap category, Mindtree on Wednesday reported better than expected second-quarter earnings for the financial year 2021-22. The company has reported overall strong growth on all fronts.
Mindtree posted a consolidated net profit at Rs 398.9 crore, up 16.2 per cent sequential and 57.2 per cent year-on-year basis, while its revenue grew by 12.9 per cent QoQ and 34.3 per cent YoY to Rs 2586.2 crore in the June-September quarter of FYY, the company said in the results filing through exchanges.
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The revenue growth in Q2 is reported to be the highest for a quarter in a decade. Moreover, the revenue in dollar terms grew 12.7 per cent QoQ and 34.1 per cent YoY to Rs $350.1 million in the Q2FY22.
The mid-cap category IT firm’s Board of Directors at its meeting held on October 13, 2021, has declared an interim dividend of 100 per cent (Rs 10 per equity share of par value Rs 10 each).
In its key earning highlights, the company’s overall revenue crosses $350 million for the quarter, its strong broad-based revenue growth of 12.7 per cent QoQ and 34.1 per cent YoY; 13.4 per cent QoQ CC (constant currency) growth.”
It added, “$1 billion revenue run rate in North America; $250 million in UK & EU; $100 million in APAC & ME, while PAT crosses $50 million for the quarter.”
The company in its management commentary said, the company had maintained EBITDA margin at 20.5 per cent in Q2 while making aggressive investments in further expanding our domain, digital and leadership capabilities, geographic footprint, and hyperscaler partnerships.
The broad-based momentum and growth outlook across all verticals, service lines, and geographies attest to our operational rigor and sharp focus on being a trusted business transformation partner to our clients, Mindtree’s management said in results filing.
Mindtree has 263 active clients as of September 30, 2021; while $5 million+ clients grew by 3, total 50 and $10 million+ clients grew by 5, total 30, the company said in highlights on Wednesday.
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