Mindtree stock slips 2% post Q4FY22 earnings

19 Apr 2022 , 11:24 AM

Shares of Mindtree erased morning gains to trade lower after posting Q4FY22 numbers. The company recorded a net profit of Rs473.10 crore, up by 49.10% in the quarter ended March 2022 as against Rs317.30 crore during the previous quarter ended March 2021.

Sales also increased by 37.36% to Rs2897.40 crore in the quarter ended March 2022 as against Rs2109.30 crore during the previous quarter ended March 2021.

Further, the Board of Directors has recommended a final dividend of 270% (Rs27 per equity share of par value Rs10 each) for the financial year ended March 31, 2022, which is subject to the approval of shareholders at the Annual General Meeting.

“Our industry-leading growth through a year of rapid business and technology shifts demonstrates the relevance of our value proposition in reimagining businesses and driving digital transformation at scale,” said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree.

“Our sequential revenue growth of 5.2% in constant currency made this our fifth consecutive quarter of 5%- plus growth in constant currency. Our full-year revenue growth of 31.1% validates our strategy to capitalize on rising demand by diversifying our services portfolio, mining customers, and broadening industry partnerships. We are proud to have delivered EBITDA margin of 20.9% and PAT margin of 15.7%, our highest in a decade. Our commitment to creating value for shareholders is reaffirmed by an EPS of Rs100.2, our highest-ever adjusted for bonuses, and a full year dividend of Rs37 per share, the highest in our history. The passion of our teams and the trust of our customers will help our endeavor to deliver profitable industry-leading growth in the coming year as well,” Debashis Chatterjee added.

The IT company added 11 clients in the quarter with total clients standing at 276. The overall TCV stood at $390 million in Q4 with top 10 clients accounting for 44.4% of the total revenues of the company.