Business Standard

SPONSORED CONTENT

What's this ?

Sponsored Content is a "Paid For" Press Release distribution arrangement. Purely a Commercial Arrangement, brands and advertisers pay to be featured and to get this content published.

The Editorial/Content team at Business Standard has not contributed to writing/editing this article.

To get your brand featured in this Section write to assist@bsmail.in

Mindtree Q1 net profit up 3.3 pc q-o-q at Rs 213 crore

ANI Press Release 

Tennis player James Blake
The company operates in more than 15 countries across the world.

Bengaluru (Karnataka) [India], July 14 (ANI): L & T-owned digital transformation company Mindtree on Tuesday reported 3.3 per cent quarter-on-quarter growth in the first-quarter net profit at Rs 213 crore.

However, revenue during Q1 FY21 declined by 6.9 per cent quarter-on-quarter at Rs 1,908 crore. In dollar terms, the net profit was flat at 28.3 million dollars while revenue dipped by 9 per cent to 253 million dollars.

"We closed the quarter with a healthy order book of 391 million dollars despite the global headwinds due to COVID-19 pandemic," said Debashis Chatterjee, Chief Executive Officer and Managing Director.

"Our unwavering focus on operational efficiencies has helped us to post a healthy EBITDA of 18.2 per cent," he said in a statement.

"With our client-first approach, future-ready talent coupled with an increase in digital demand, we are confident to strengthen our position in the market and drive profitable growth in these unprecedented times," said Chatterjee.

The company said it had 292 active clients as on June 30. With 21,955 employees, Mindtree had trailing 12 months attrition at 16.6 per cent. (ANI)

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, July 14 2020. 23:30 IST
RECOMMENDED FOR YOU

Mindtree Q1 net profit up 3.3 pc q-o-q at Rs 213 crore

Bengaluru (Karnataka) [India], July 14 (ANI): L & T-owned digital transformation company Mindtree on Tuesday reported 3.3 per cent quarter-on-quarter growth in the first-quarter net profit at Rs 213 crore.

Bengaluru (Karnataka) [India], July 14 (ANI): L & T-owned digital transformation company Mindtree on Tuesday reported 3.3 per cent quarter-on-quarter growth in the first-quarter net profit at Rs 213 crore.

However, revenue during Q1 FY21 declined by 6.9 per cent quarter-on-quarter at Rs 1,908 crore. In dollar terms, the net profit was flat at 28.3 million dollars while revenue dipped by 9 per cent to 253 million dollars.

"We closed the quarter with a healthy order book of 391 million dollars despite the global headwinds due to COVID-19 pandemic," said Debashis Chatterjee, Chief Executive Officer and Managing Director.

"Our unwavering focus on operational efficiencies has helped us to post a healthy EBITDA of 18.2 per cent," he said in a statement.

"With our client-first approach, future-ready talent coupled with an increase in digital demand, we are confident to strengthen our position in the market and drive profitable growth in these unprecedented times," said Chatterjee.

The company said it had 292 active clients as on June 30. With 21,955 employees, Mindtree had trailing 12 months attrition at 16.6 per cent. (ANI)

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
image
Business Standard
177 22

Mindtree Q1 net profit up 3.3 pc q-o-q at Rs 213 crore

Bengaluru (Karnataka) [India], July 14 (ANI): L & T-owned digital transformation company Mindtree on Tuesday reported 3.3 per cent quarter-on-quarter growth in the first-quarter net profit at Rs 213 crore.

However, revenue during Q1 FY21 declined by 6.9 per cent quarter-on-quarter at Rs 1,908 crore. In dollar terms, the net profit was flat at 28.3 million dollars while revenue dipped by 9 per cent to 253 million dollars.

"We closed the quarter with a healthy order book of 391 million dollars despite the global headwinds due to COVID-19 pandemic," said Debashis Chatterjee, Chief Executive Officer and Managing Director.

"Our unwavering focus on operational efficiencies has helped us to post a healthy EBITDA of 18.2 per cent," he said in a statement.

"With our client-first approach, future-ready talent coupled with an increase in digital demand, we are confident to strengthen our position in the market and drive profitable growth in these unprecedented times," said Chatterjee.

The company said it had 292 active clients as on June 30. With 21,955 employees, Mindtree had trailing 12 months attrition at 16.6 per cent. (ANI)

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22
.