Mindtree net profit up 6.8% annually

Revenue for the quarter was up 15.5% on a y-o-y basis at Rs 888.6 crore

Bangalore-based information technology services firm Mindtree on Wednesday reported net profit of Rs 137.4 crore for the second quarter, ending September 30, up 6.8 per cent year-on-year.

Revenue for the quarter was up 15.5 per cent on a year-on-year basis at Rs 888.6 crore. The company has beat market expectations, as analysts expected a drop in net profits on a sequential basis. Net profit on a quarter-on-quarter basis grew 6.2% and revenue rose by 5.3%.

"Our deep expertise in Digital and Infrastructure services has led to continued opportunities to help our clients differentiate their business. Our strategy of becoming a leader in digital solutions is continuing to bear fruit and has contributed to another strong growth quarter for Mindtree" said Krishnakumar Natarajan, CEO & Managing Director, Mindtree.

By the end of the September quarter the total client count had touched 200. The company also managed to increase it large client base. The $30 million client group saw an addition of four clients, the $20 million went up to seven and $5 million client segment was at 27.

Mindtree added 810 employee (gross) for the quarter taking its total headcount to 13,018 with an attrition of 15.7%.

The company announced an interim dividend of 30% for the quarter ended September 30, 2014.