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Mindtree Q4 net falls 27 pc at Rs 97.2 cr

Press Trust of India  |  New Delhi 

Mid-sized software services firm today posted a decline of 26.8 per cent in consolidated net profit at Rs 97.2 crore for the quarter ended March 31.

The firm had posted a net profit of Rs 132.7 crore in the year-ago period, it said in a statement.


Consolidated fell marginally to Rs 1,318.1 crore in January-March from Rs 1,320.3 crore a year ago.

In dollar terms, net profit fell 25.9 per cent to USD 14.4 million, while grew marginally to USD 195.6 million.

Constant currency growth stood at 2 per cent quarter- on-quarter.

For the year ended March 31, net profit declined 24.2 per cent to Rs 418.6 crore, while was up 12.1 per cent to Rs 5,236.4 crore as against the previous fiscal.

The company had 328 active clients as of March 31. Its total headcount stood at 16,470 at the end of the said quarter. The trailing 12 months attrition stood at 15.1 per cent.

The company saw contract closures of USD 926 million during the last fiscal.

"This past year, has continued to build on its historical strength as a leader in helping clients deploy digital technologies to spur business growth," CEO and Managing Director Rostow Ravanan said.

He added that the company has also seen a significant increase competing for large managed services opportunities.

The Board of Directors have recommended a final dividend of 30 per cent (Rs 3 per equity share) for the year ended March 31, 2017, subject to shareholder approval.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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