Mindtree soars after Q2 PAT rises 16% QoQ to Rs 399 crore

Mindtree jumped 8.42% to Rs 4730.65 after the company reported 16.2% rise in consolidated net profit to Rs 398.9 crore on a 12.9% increase in revenue to Rs 2,586.2 crore in Q2 FY22 over Q1 FY22.

As compared to Q2 FY21, the company's net profit and revenue have increased by 57.2% and 34.3%, respectively.

EBITDA improved by 14.3% to Rs 530.7 crore in Q2 FY22 from Rs 464.5 crore in Q1 FY22. EBITDA margin was at 20.5% as on 30 September 2021 as against 20.3% as on 30 June 2021.

The company's free cash flow increased to Rs 279.1 crore in Q2 FY22 from Rs 97.3 crore in Q1 FY22.

In dollar terms, Mindtree registered 16% increase in consolidated net profit to $54 million on a 12.7% rise in revenue to $350.1 million in Q2 FY22 over Q1 FY22.

The IT firm had 263 active clients as of 30 September 2021. It added three new $5 million+ clients and five new $10 million+ clients during the quarter.

Its total headcount at the end of the September 2021 period stood at 29,732. The trailing 12-month attrition rate at the end of the quarter stood at 17.7%.

The board of directors of the company has declared an interim dividend for FY2021-22 of Rs 10 per equity share. The record date for the same is 22 October 2021.

Debashis Chatterjee, chief executive officer and managing director, Mindtree, said: We are pleased to report yet another outstanding quarter of all-round performance. The broad-based momentum and growth outlook across all verticals, service lines and geographies attest to our operational rigor and sharp focus on being a trusted business transformation partner to our clients.

Mindtree is a global technology consulting and services company. It is now a Larsen & Toubro Group Company.

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