Mindtree PBT more than doubles in Q1; revenues up 4.1% to Rs 1,908.8 cr

Revenue of the firm grew 4.1 per cent year-on-year to Rs 1,908.8 crore during this period though it declined 6.9 per cent sequentially

IT services company Mindtree delivered a mixed set of numbers for the first quarter of financial year 2020-21 (Q1FY21) as it beat profit estimates because of a reduction in other expenses. Its profit before tax (PBT) stood at Rs 289.8 crore, up 129.6 per cent year-on-year (YoY), and 10.9 per cent sequentially, according to Mindtree’s exchange filing. 

The Bengaluru-headquartered firm posted a net profit of Rs 213 crore, a rise of 129.8 per cent YoY and 3.3 per cent sequentially. The jump in net profit was mainly helped by around Rs 87.7 crore in savings the company made towards travel, reduction