BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lilladher Report
Mindtree Ltd. reported exceptionally strong beat in revenue (up 450 basis points/up 680 bps above our/consensus estimates) with 12.7% QoQ U.S. dollar growth led by strong growth in retail, consumer packaged goods and manufacturing (up 29.7% QoQ U.S. dollar) partly aided by project backlogs as economies opened after extended lock down, especially in Europe region which also posted strong growth. (Continental Europe up 14.7% QoQ U.S. dollar).
Mindtree's rest of the verticals and markets also posted strong growth.
Bulk of the growth was driven by customer success service line (up 21.9% QoQ U.S. dollar) which also indicates strong demand for adoption of technology for revenue maximisation and this is only expected to increase with time.
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