MindTree reports muted results for Q3FY17
Bhagyashree Vivarekar / 19 Jan 2017
MindTree Ltd. reported its results for the quarter ended December 31, 2016.
The company's total sales for Q3FY17 came in at Rs 1295.3 crore, which represents a 0.01 per cent sequential decline and 7.09 per cent YoY increase.
MindTree Ltd. reported its results for the quarter ended December 31, 2016.
The company's total sales for Q3FY17 came in at Rs 1295.3 crore, which represents a 0.01 per cent sequential decline and 7.09 per cent YoY increase.
The operating profit (EBIT) for the quarter amounted to Rs 128.1 crore and EBIT margin stood at 9.89 per cent.
The company reported PAT of Rs 103.1 crore, which represents a sequential QoQ increase of 8.76 per cent and a YoY decline of 26.72 per cent.
The company’s attrition level for Q3FY17 stands at 16.1 per cent versus 16.4 per cent in Q2FY17. Further, the company witnessed 71.3 per cent employee utilisation (including trainees) for Q3FY17.
MindTree Ltd is an India-based 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).
The company's stock opened at Rs 500 on the BSE and fell by 3 per cent to close at Rs 484.85.
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