Mindtree net profit jumps 37% at Rs 471.6 crore in April-June

IT company Mindtree on Wednesday posted a 37.3 per cent rise in net profit at Rs 471.6 crore for the three months ended on June 30, 2022.

The company had reported a net profit of Rs 343.4 crore in the corresponding quarter of the previous fiscal.

The revenue for the current fiscal's first quarter came in at Rs 3,121.1 crore, logging a growth of over 36 per cent year-on-year.

"We are excited to report a strong start to FY23 with robust revenue growth, solid margin and a record order book, demonstrating our continued industry-leading growth momentum," Debashis Chatterjee, Chief Executive Officer and Managing Director of Mindtree, said in a statement.

The company's highest-ever order book of $570 million reflects the relevance of Mindtree's value proposition in delivering business-critical transformation at scale, Chatterjee added.

The net profit at Rs 471.6 crore translated into a sequential dip of 0.3 per cent when seen quarter-on-quarter (q-o-q) and a growth of 37.3 per cent year-on-year (y-o-y).

"Revenue was Rs 31,211 million (growth of 7.7 per cent q-o-q /36.2 per cent y-o-y)," the statement said.