Strong Deal Wins Fuel Mindtree’s March Quarter Earnings
Mindtree Ltd.’s double-digit growth in net profit and margin for the quarter ended March was aided strong deal wins.
The company recently received one of its biggest contracts from a client in the U.S. airline industry and won deals worth $102 million in the digital space, Rostow Ravanan, chief executive officer of Mindtree Ltd. told BloombergQuint in an interview. A strong foundation built over the last two years on the back of investment in technology, talent and partnership have helped the company bag newer contracts, he added.
Earnings Highlight (Q4, QoQ)
- Net profit rose 29 percent to Rs 182 crore on a sequential basis
- Margins on earnings before interest and taxes expanded to 13.4 percent from 12 percent in the same quarter last year.
Shares of Mindtree rose nearly 4 percent to Rs 897.30 by the end of trade today.
Watch the full interview here.