Mindtree soars after stellar Q4 numbers

Mindtree jumped 7.9% to Rs 842.40 after the company announced decent Q4 numbers after trading hours on Friday, 24 April 2020.

On a consolidated basis, Mindtree's net profit rose 4.7% to Rs 206.2 crore on a 4.3% increase in revenue to Rs 2050.5 crore in Q4 March 2020 over Q3 December 2019.

Consolidated EBITDA for Q4 March 2020 stood at Rs 351.20 crore, rising 14.7% compared with Rs 3,063 reported in Q3 December 2019. EBITDA margin rose to 17.1% in Q4 March 2020 from 15.6% reported in Q3 December 2019.

Commenting on company's Q4 performance, Debashis Chatterjee, Chief Executive Officer and Managing Director said, "Our relentless focus and client-first approach have resulted in robust Q4 performance on multiple dimensions like revenue growth of 1.9% in constant currency, expansion of operating margin by 150 basis points and record deal wins of $393 million.

He further added, "Looking ahead to fiscal 2021, we anticipate softness in demand due to the unprecedented COVID-19 pandemic. However, we're well equipped to handle the global crisis based on the business continuity plan we have successfully implemented to ensure the health and safety of our employees while fully supporting our clients worldwide. We remain confident that we will continue to create value for our clients, drive profitable growth, develop future-ready talent and maximize shareholder value."

In US$ terms, the company's net profit grew 1.8% quarter-on-quarter (q-o-q) at $28.2 million in Q4 March 2020. The revenue for the quarter rose 1.2% to $278.40 million over Q3 December 2019.

Mindtree said it has 307 active clients as of 31 March, which includes 23 $10 million clients. Its employee count stood at 21,991, with a trailing 12 months attrition rate at 17.4%.

The board of directors have recommended a final dividend of Rs 10 per share for the financial year ended 31 March 2020.

MindTree is an international information technology consulting and implementation company that delivers business solutions through global software development.

Powered by Capital Market - Live News