Mindtree Q2 Review - Robust Revenue Growth; Efficient Execution To Aid Margin Expansion: Axis Securities
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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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