Mindtree Q2 Net up 6.8% to Rs 137.4 crore

Mid-sized IT firm Mindtree today posted a 6.8 per cent rise in net profit at Rs 137.4 crore for the quarter ended September 30, 2014.
This is against a net profit of Rs 128.7 crore in the same quarter last year.
The company's revenue increased 15.5 per cent to Rs 888.6 crore for the quarter under review from Rs 769.6 crore in the same period last fiscal.
"Our deep expertise in Digital and Infrastructure services has led to continued opportunities to help our clients differentiate their business," Mindtree CEO and Managing Director Krishnakumar Natarajan said in a statement.
The strategy of becoming a leader in digital solutions is continuing to bear fruit and has contributed to another strong growth quarter for Mindtree, he added.

In dollar terms, the Bangalore-based firm reported a 9.7 per cent growth in net profit at USD 22.74 million and 18.6 per cent rise in revenue to USD 147.05 million.

It had 200 active clients and 13,018 employees (addition of 810 employees gross during the quarter) as of September 30, 2014. The trailing 12 months attrition stood at 15.7 per cent.
Retail, CPG and Manufacturing accounted for Rs 192.3 crore, while BFSI and Hitech and Media Services contributed Rs 202.7 crore and Rs 290.4 crore to revenues during the quarter. Travel & Hospitality segment accounted for Rs 151.5 crore.
The Board of Directors have also recommended an interim dividend of Rs 3 per equity share (30 per cent) for the said quarter.