MindTree is in focus, Q2 net profit 14 per cent up

MindTree is an international information technology (IT) consulting and implementation company. The company operates in two units: Production Engineering (PE) services and IT services. PE services include Research and Development (R&D) services and Software Product Engineering (SPE).

Recently, MindTree announced its second quarter FY16 results, wherein its dollar revenue stood at USD 18.03 crore and grew by 16.4 per cent on quarterly basis. The Organic revenue (without acquisitions of last quarter) grew by 8.1 per cent in Q2FY16 compared to Q1FY16. Its Rupee revenue increased by 19.12 per cent to Rs 1169 crore against Rs 982 crore on Q-o-Q basis.

The EBITDA rose by 12 per cent to Rs 216.4 crore, EBITDA margin contracted by 117 basis points on quarterly basis. The Operating profit increased by 14.79 per cent to Rs 185 crore. The other income of MindTree in this quarter jumped by 13.37 per cent. The Net Profit of the company stood at Rs 158 crore in Q2FY16 compared to Rs 138 crore in Q1FY16, increased by 14.47 per cent.

During the quarter, MindTree added 1801 new employees on a gross basis, while total employee count as on September 30, 2015 is 15582. The Company's total active client count is 296 as on September 30, 2015.

“A stellar quarter on all fronts. Our recent strong deal wins and strategic acquisitions will fuel growth and enhance our leadership in the digital space. We are also excited about our new state-of-the-art global learning center at Bhubaneswar, focused on building the digital workforce of tomorrow. These are great strides that will continue to yield impressive results for our clients in a rapidly changing business environment,” said Krishnakumar Natarajan, CEO & Managing Director, Mindtree.

After a good and satisfactory result, today MindTree is trading at Rs 1437, which is more than 2 per cent higher.