MindTree Q4 results: Net Profit increased by 53.90% (YoY) to Rs. 317.30 Crores

MindTree Q4 results: Net Profit increased by 53.90% (YoY) to Rs. 317.30 Crores

MindTree Q4 results: It is one of the largest multinational companies in India located in Bangalore. Whereas the company provides services in outsourcing, consulting, and managed services across India. However, the company works under the subsidiary of the Larsen & Toubro Group. Besides, the company provides services in e-commerce, mobile applications, cloud computing, digital transformation, data analytics, and enterprise resource planning. The present chief executive officer (CEO) & managing director (MD) of the company is Debashis Chatterjee.

Meanwhile, on Friday, April 16th, the IT company reported its Q4 results for the financial year 2021-22. The companies standalone net profit increased by 53.90% Year-on-Year (YoY) to Rs. 317.30 crores during the quarter ended on March 31st, 2021. While the company also posted its standalone net profit of Rs. 206.10 crores in the same quarter last fiscal year.

Moreover, the companies total revenue from operations increased by 2.90% YoY to Rs. 2,109.30 crores as against Rs. 2,050.50 crores in the same period last year. The companies earnings per share (EPS) increased to Rs. 19.25 in Q4FY21 compared to Rs. 12.53 in the same period last year. In terms of dollars, the companies revenue during the quarter increased by 5.20% QoQ to $288.20 million.

“We are happy that the company delivering strong results consecutively. During the quarter, the profits were driven by significant traction in our client portfolio globally, leading to revenue growth of 5.20%, EBITDA of 21.90%, and an order book of $375 million,” said Debashis Chatterjee chief executive officer (CEO) and managing director (MD) of MindTree.

MindTree Q4 Results

Whereas the analyst expects that the profits of the company stood at Rs. 282 crores and revenue at Rs. 2,084 crores for the March quarter. The analyst also expects that the dollar revenue of the company stood at $287 million respectively.

During this quarter, the IT company added one client in the range of $5 million categories. But, the company lost two clients in the $1 million range and one client in the $10 million range. However, the total active clients of the company reached 270 compared to 276 clients earlier.

In the financial year 2020-21, the companies net profit increased by 76% YoY to Rs. 1,110.50 crores. While the revenue of the company from operations increased by 2.60% to Rs. 7,967.80 crores. The margins of the company reported at 680 basis points. Whereas the order book of the company during the quarter increased by 12.30%, he added.

On the other side, the company declared its final dividend of Rs. 17.50 per equity share to the shareholders.

However, the shares of MindTree Limited on Friday reported a bullish trend in the stock market. It gained 4.35 points with an 0.21% increase and reached 2,069.65 INR. While in BSE, the company gained 3.60 points with an 0.17% increase and reached 2,067.60 INR.

Stock Market on April 16th:

On Friday, both Sensex and Nifty continue their bullish trend in the stock market from the last session of the market. The Sensex is trading above 48,800 levels and nifty trading above 14,600 levels in the stock market. The Sensex gained 28.35 points with a 0.058% increase and reached 48,832.03 levels. While the nifty gained 36.40 points with a 0.25% increase and reached 14,617.85 levels.

On the other side, the number of coronavirus cases in India on Saturday, April 17th reached 1,45,26,609 with almost 1,75,649 deaths.

In the border markets, the S&P BSE Small-Cap index reported a bullish trend in the stock market on Friday. It gained 218.86 points with a 1.05% increase and reached 21,018.55 levels. But, the S&P BSE Midcap gained 233.78 points with a 1.17% increase and reached a 20,157.36 level. While the Nifty Bank lost 135.40 points with a 0.42% decrease and reached 31,977.45 level.

Top Gainers on April 16th: Wipro, Hindalco Industries, Asian Paints, UltraTech Cement, and Cipla are the top gainers in today’s stock market.

Top Losers on April 16th: JSW Steel, ICICI Bank, Larsen & Toubro, Bajaj Finance, and Tata Steel are the top losers in today’s stock market.

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