IT solutions vendor Mindtree Ltd saw net profit after tax during the second quarter ended September 30, 2009 increasing 33.8 per cent to Rs 49.88 crore, from Rs 35.13 crore in the corresponding quarter of the previous year.

On a quarter-on-quarter basis, the bottomline declined 12.1 per cent from Rs 56.73 crore in the first quarter of fiscal 2009 ending June.

BSE  |  NSE Price

Also Read   Related Stories News Now - S&P assigns 'BBB' to Wipro on better financial health - 'It was only growth that eluded us' - Rolta Q2 net doubles to Rs 56 cr, to raise $250 mn - Sun Microsystems to axe 3,000 jobs worldwide - Asia set for dramatic changes; India 'real sleeper': Roach - Sterlite Technologies Q2 net jumps nine-fold to Rs 54.67 cr

Also Read   Related Stories News Now - Markets end lower ahead of May F&O expiry - Parsvnath posts Rs 23 cr loss in Q4 - Educomp net down 57% at Rs 61 cr in Jan-Mar qtr - DLF Q4 net plunges 39% to Rs 211 cr - Provogue Q4 net profit down 71% at Rs 1.81 cr More

In dollar terms, PAT was $10.35 million, indicating growth of 14.8 per cent year-on-year and decrease of 10.4 per cent sequentially. Revenues were $65.3 million, representing year-on-year decline of 9.4 per cent and sequential growth of 5.1 per cent.  

The product engineering services business logged revenues of Rs 142.60 crore from Rs 109.86 crore a year earlier. IT services revenues were stagnant at Rs 172.38 crore.

EBITDA was Rs 65.93 crore, falling 23.9 per cent year-on-year and growing 30.1 per cent quarter-on-quarter.

In early October, MindTree announced its entry into the business of mobile products with the acquisition of Kyocera Wireless India (KWI). The new entity, a 100 per cent subsidiary of MindTree, is now called MindTree Wireless Technologies Pvt. Ltd. This is the 10-year-old Bangalore-based company's seventh acquisiton targeting growth.

"The mobile products business, along with our other businesses, will give a boost to our vision of achieving $1 billion in revenues by 2014,” said MindTree chief executive officer and managing director Krishnakumar Natarajan.

Natarajan said that the company has been witnessing steady improvement in the global economic situation and this has reflected in its financial performance in the recent quarter. MindTree added 24 customers during the quarter.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end lower ahead of May F&O expiry - Parsvnath posts Rs 23 cr loss in Q4 - Educomp net down 57% at Rs 61 cr in Jan-Mar qtr - DLF Q4 net plunges 39% to Rs 211 cr - Provogue Q4 net profit down 71% at Rs 1.81 cr

Tags : Mindtree | IT Industry | financial results | Q2FY10   Read Business news in  Advertisements -  India's no. 1 Property Site. Click here to know more -   -  "Discover The Power of One" -  Help a Child Achieve her. Click to know more -  The Best Seller is Also the No. 1 in Mileage. Click here -  Watch The Film Here. Click here to know more.. -  Learn How One City is Running on FOOD SCRAPS. -  1 billion in saving for Unilever without any tangles. -  A Brand New Server at a Price That Fits Your Budget. Click here -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More -  2 Lac Apartments, 1 Lac House / Plots. Click here