Mindtree’s revenue up 37.4% to Rs 2,897 crore
- ByStartupStory | April 19, 2022
The rising demand for its services in Cloud and digital transformation deals coupled with deal sizes getting smaller helped mid-cap information technology services player Mindtree to see a 49% year-on-year jump in net profit in the fourth quarter of the financial year 2021-22 (Q4FY22).
Net profit also rose to 473 INRcrore in Q4, which represented an 8% rise sequentially.
Mindtree’s revenue rose 37.4% YoY in Q4 to Rs 2,897 crore. In US dollar, revenue grew 4.8% quarter-on-quarter. This also marks the fifth consecutive quarter of 5% revenue growth in US dollars. On a constant currency basis, the company reported revenue growth of 5.2%.
For the full year, Mindtree reported revenue growth of 32.1% at INR10,525 crore, and profit grew 48.8% to INR 1,652.9 crore. The tech giant also reported attrition at 23.8% in Q4FY22, up from 12.1% in Q4FY21 and 21.9% in Q3FY22.
Debashis Chatterjee, chief executive officer(CEO) and managing director of the firm, says,” Our three-pronged approach of accelerating core portfolio, expanding emerging portfolio, and incubating new portfolio, has helped us sustain our growth momentum while staying ahead of market trends and customer needs in delivering digital transformation at scale.”
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