Mindtree Q3: Strong Margins, Better Execution, Says Axis Securities
A view of the Mindtree campus in Bengaluru. (Source: PTI)

Mindtree Q3: Strong Margins, Better Execution, Says Axis Securities

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Axis Securities Report

Mindtree Ltd. reported broad based growth in Q3 FY21, revenue stood at Rs. 2,024 crore up 3.0% YoY and 5.1% QoQ. Operating profit showed a growth of 52.8% YoY at Rs. 468 crore, operating margin grew by 290 bps, at 19.6%, over previous quarter, aided by strong execution, higher utilisation and lower travel cost.

Net profit for Q3 FY21 stood at Rs.327 crore, a growth of 65.7% YoY. The management commentary is positive in verticals like BFSI, Hitech Media and Life Sciences. Management is positive on the H2 FY21 outlook despite seasonal weakness. Deal wins for the quarter remained in line with the expectations at $312 million.

Mindtree management also guided for investment, timely strategy refresh led by consolidation of service lines, attention towards multi-year engagements and focus on scaling top accounts that can aid sales traction.

Click on the attachment to read the full report:

Axis - Mindtree-Q3FY21-ResultUpdate-19012021.pdf

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