Mindtree Q2 net profit up 46% QoQ on better operating income

mindtree

Mindtree’s Q2 FY20 consolidated net profit rose 45.6 percent quarter-on-quarter to Rs 135 crore on the back better operating income.

Revenue increased 4.4 percent to Rs 1,914.3 crore, while dollar revenue rose 2.6 percent to $271 million.

EBIT for the quarter stood at Rs 177.5 crore, up 51.5 percent, while EBIT margin saw a 290 bps increase to 9.3 percent.

“Our second quarter performance of double digit YoY revenue growth reflects our client centricity, our employees’ winning spirit and our innovation,” said its CEO Debashis Chatterjee.

The board has declared an interim dividend of Rs 3 (30 percent) per equity share of par value Rs 10 each. The record date for payment of this interim dividend will be October 25.

The company’s 12-month attrition rate was at 16.5 percent versus 15.1 percent QoQ.

news Source:- moneycontrol

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