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.
Axis Securities Report
Mindtree Ltd. beat our estimates for Q2 FY22 and reported robust revenue growth of 34.3% YoY and 12.9% QoQ as it stood at Rs 2,586 crore.
The company reported operating profits of Rs 470 crore, registering a growth of 15.6% QoQ.
Operating margins expanded by 50 basis points QoQ to 18.2%, mainly driven by the company’s superior execution and better service mix.
Net profit for Q2 FY22 stood at Rs 399 crore, registering a growth of 57.1% YoY and 16.1% QoQ.
Mindtree communicated a positive commentary on the verticals such as banking, financial services and insurance, hi-tech media, and life sciences.
Deal-wins for the quarter continued their robust momentum and stood at $360 million.
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