A Mindtree Office. (Source: Mindtree’s Facebook Page)

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.

Also read: Mindtree Expects Double-Digit Growth For Next Few Years

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.