Mindtree Q3 Review - Robust Revenue Growth; Efficient Execution To Aid Margin Expansion: Axis Securities

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 with revenue of Rs 2,750 crore for Q3 FY22, reporting revenue growth of 35.9% YoY and 6.3% QoQ. The company posted operating profits of Rs 592 crore, registering a growth of 9.7% QoQ. Furthermore, its operating margins expanded by 100 basis points QoQ to 21.5%, mainly driven by the company’s superior execution and better service mix. Net profit for Q3 FY22 stood at Rs 438 crore, registering an impressive growth of 34% YoY and 9.7% QoQ. The management communicated a positive commentary on the verticals banking, financial services and insurance, hi-tech media, and life sciences. Deal-wins for the quarter continued robust momentum and stood at $358 million. Mindtree continues with its multi-pronged strategy of consolidating service lines, consistent investment, focusing on garnering multi-year engagements, and scaling up top accounts that can aid in sales traction..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Mindtree Q3 Review - Robust Revenue Growth; Efficient Execution To Aid Margin Expansion: Axis Securities

Mindtree Q3 Review - Robust Revenue Growth; Efficient Execution To Aid Margin Expansion: Axis Securities

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