Mindtree Q1 net profit grows 129.8% YoY at Rs 213 crore; revenue rises 4%

Mid-tier IT company, Mindtree, on Tuesday posted a 129.8 per cent year-on-year (YoY) growth in its consolidated net profit at Rs 213 crore for the quarter ended June 2020 (Q1FY20-21). On a sequential basis, the numbers grew 3.3 per cent. 

The company's revenue came in at Rs 1,908.8 crore, up 4.1 per cent YoY and down 6.9 per cent QoQ. 

In US dollar terms, revenue stood at $253.2 million, down 4.1 per cent YoY and 9 per cent QoQ. Net profit came in at $28.3 million, up 0.1 per cent QoQ and 111.7 per cent YoY. 

"We closed the quarter