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Mindtree Ltd Q3 net up 34% at Rs438cr on the back of high value client additions

13 Jan 2022 , 09:14 PM

Mindtree Ltd reported 35.89% growth in total revenues for the Dec-21 quarter on consolidated basis at Rs2,750cr. On a sequential basis, the revenues were up by 6.33%.

During the December 2021 quarter, the Americas accounted for 77.2% of the total revenues in IT services while Continental Europe, UK and Asia pacific split the balance equally between them.

Mindtree had a total of 265 client as of the end of Dec-21 quarter which included 2 additions of $5 million plus clients and 3 additions of $10 million plus clients.

Operating profits grew by 26.54% yoy at Rs592cr as the higher manpower costs and sub-contracting expenses had an impact on operating profits growth and operating margins.

As a result, the operating margins fell from 23.12% in the Dec-20 quarter to 21.53% in the Dec-21 quarter. The free cash flows of the company stood at Rs460cr.

Net Profit after tax (PAT) for the Dec-21 quarter was up 34% at Rs438cr on the back of higher other income. This partially neutralized the operating profit pressure. PAT margins narrowed from 16.13% in the Dec-20 quarter to 15.91% in the Dec-21 quarter. The board has declared a final dividend of Rs.17.50 per share.

Financial highlights for Dec-21 compared yoy and sequentially

Mindtree Ltd
Rs in Crore Dec-21 Dec-20 YOY Sep-21 QOQ
Total Income (Rs cr) ₹ 2,750 ₹ 2,024 35.89% ₹ 2,586 6.33%
Operating Profit (Rs cr) ₹ 592 ₹ 468 26.54% ₹ 531 11.57%
Net Profit (Rs cr) ₹ 438 ₹ 327 34.00% ₹ 399 9.68%
Diluted EPS (Rs) ₹ 26.50 ₹ 19.81 ₹ 24.19
OPM 21.53% 23.12% 20.52%
Net Margins 15.91% 16.13% 15.42%

Related Tags

  • IT Sector
  • Mindtree Ltd management
  • Mindtree Ltd news
  • Mindtree Ltd Q3
  • Mindtree Ltd Q3FY22 IT Business
  • Mindtree Ltd Q3FY22 PAT
  • Mindtree Ltd Q3FY22 Result
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