Mindtree Q3: Strong Margins, Better Execution, Says 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. 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:
This 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 brokerage 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.