Mindtree To Focus On Diversification Of Client Base
Mindtree Ltd. will focus on diversifying its client base to improve profitability after it reported a sequential decline in the June quarter earnings. The company is identifying certain stressed areas and will expand its focus beyond top clients for revenue growth.
“Client concentration is a concern that we are very mindful of,” Chief Operating Officer Parthasarathy NS told BloombergQuint. “But we come with a lot of confidence for improvement due to our strong deliveries.”
Key Financial Highlights
- Net profit fell 13.2 percent to Rs 158 crore.
- Revenue increased 12 percent to Rs 1,640 crore.
- Earnings before interest and tax fell 2.9 percent to Rs 191.5 crore.
- Ebit margin contracted 220 basis points to 11.7 percent.
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