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MindTree Q3 Net Profit Reaches 
60.6 Crore
Thursday, 19 January 2012, 17:22 IST
New Delhi: Software services firm, MindTree, reported an almost two-fold jump in consolidated net profit to 
60.6 crore for the quarter ended December 31, 2011.
The company had reported a net profit of 30.5 crore for the same period in the 2010-11 financial year. Revenue of the company grew by 35 percent to 519.7 crore during the reporting quarter from 384.8 crore in the same period a year ago.
"Inspite of Q3 being a seasonally weak quarter, we have seen significant improvement in margins mainly due to the rupee depreciation and also a marginal increase due to our continued focus toward operational excellence initiatives," Krishnakumar Natarajan, MindTree CEO and Managing Director, said in a statement. He added that the global economic situation continues to be challenging and the company needs to constantly monitor this and be prepared.
Without disclosing the names of its clients, MindTree said it won business deals from a global hotel chain, automobile company, manufacturing company and a technology-based solutions provider for the ophthalmic industry during the quarter, the statement said.
The company added a total 846 people during the quarter, taking its total people strength to 10,934. MindTree did not disclose net employee additions during the reporting quarter. Shares of the company closed at 449.35 on the BSE, up by 1.55 percent vis-a-vis their previous close.
Source: PTI
60.6 crore for the quarter ended December 31, 2011.
The company had reported a net profit of 30.5 crore for the same period in the 2010-11 financial year. Revenue of the company grew by 35 percent to 519.7 crore during the reporting quarter from 384.8 crore in the same period a year ago.
"Inspite of Q3 being a seasonally weak quarter, we have seen significant improvement in margins mainly due to the rupee depreciation and also a marginal increase due to our continued focus toward operational excellence initiatives," Krishnakumar Natarajan, MindTree CEO and Managing Director, said in a statement. He added that the global economic situation continues to be challenging and the company needs to constantly monitor this and be prepared.
Without disclosing the names of its clients, MindTree said it won business deals from a global hotel chain, automobile company, manufacturing company and a technology-based solutions provider for the ophthalmic industry during the quarter, the statement said.
The company added a total 846 people during the quarter, taking its total people strength to 10,934. MindTree did not disclose net employee additions during the reporting quarter. Shares of the company closed at 449.35 on the BSE, up by 1.55 percent vis-a-vis their previous close.
Source: PTI