Mindtree reports stellar performance in Q3 FY22, EBIDTA margins at 21.5%, YTD TCV crosses $1.2 bn

14 Jan 2022 , 09:19 AM

Mindtree, global technology services and digital transformation company, announced its consolidated results for the quarter ended December 2021.

The consolidated revenue of Mindtree stood at Rs 27,500 million with a 35.9% yoy growth, and 6.3% growth for the Q3. The company’s net profit inched by 34% yoy at Rs 4,375 million, reflecting quarterly growth of 9.7%.

Its EBITDA for the quarter shown stable growth of 11.6% at Rs 5921 million, making it 26.5% yoy basis. While its EBIT settled at Rs 5,289 million registering a growth of 12.6% for the quarter, and 33.5% on a yoy basis. Also, EBITDA margin for the quarter stood at 21.5%, recording a growth of 1% from the last quarter.

The company has over 265 active clients as of December 2021, after adding 2 clients in $5 million+ band and 3 clients in $10 million+ category during the quarter. Mindtree had 31,959, employees with 12 months trailing attrition of 21.9%.

It reported 41.4% YoY revenue growth in Top 2-20 clients. The company’s cash and investments are at an all-time high of $412.7 million. YTD PAT at $158.8 million, exceeding the PAT for entire FY21.

The growth in business was driven by Continental Europe, North America, and Middle East & APAC which registered 6.9 percent, 5.1 percent, and 14.7 percent growth in Q3 respectively, however, UK and Ireland recorded decline in revenue of 7.1 percent QoQ.

Mindtree Ltd is currently trading at Rs4,525 down by Rs218.8 or 4.61% from its previous closing of Rs4,743.80 on the BSE.