The News Scroll 24 April 2020  Last Updated at 5:37 pm | Source: PTI

Mindtree Q4 net profit up 3.9 pc to Rs 206.2 cr

Mindtree Q4 net profit up 3.9 pc to Rs 206.2 cr
New Delhi, Apr 24 (PTI) IT firm Mindtree on Friday reported 3.9 per cent rise in consolidated net profit to Rs 206.2 crore for March 2020 quarter, and said it anticipates softness in demand due to COVID-19 pandemic.

The company had posted a net profit of Rs 198.4 crore in the same period last year, Mindtree said in a regulatory filing.

The Bengaluru-based company'' revenues grew 11.5 per cent to Rs 2,050.5 crore in the quarter under review from Rs 1,839.4 crore in the year-ago period, it 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," Mindtree Chief Executive Officer and Managing Director Debashis Chatterjee said.

He added that the company remains confident of continuing to create value for clients, drive profitable growth, develop future-ready talent and maximise shareholder value.

"Our relentless focus and client-first approach have resulted in robust Q4 performance on multiple dimensions – revenue growth of 1.9 per cent in constant currency, expansion of operating margin by 150 basis points and record deal wins of USD 393 million," Chatterjee said.

In dollar terms, net profit was flat at USD 28.2 million, while revenue increased 6.3 per cent to USD 278.4 million in the said quarter over the year-ago period.

On full-year basis, the net profit declined 16.3 per cent to Rs 630.9 crore, while revenue grew 10.6 per cent to Rs 7,764.3 crore in FY20 compared to the previous fiscal.

At the end of March 2020 quarter, the company''s active client base stood at 307. It had 21,991 employees at the end of the fourth quarter with trailing 12-months attrition at 17.4 per cent.

The Board of Directors has recommended a final dividend of Rs 10 per equity share for the financial year ended March 31, 2020 -- subject to the approval of shareholders at the 21st annual general meeting. PTI SR BAL BAL

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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