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%