Top 7 Key Takeaways From Mindtree Q3 Results

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Mid-sized IT firm Mindtree on Monday posted net profit of Rs 150.9 crore, up by 7.2 per cent for the quarter ended December 31, 2015, driven by strong growth across segments.

The company's net profit stood at Rs 140.8 crore in the same period last year.

Mr Krishnakumar Natarajan, Executive Chairman of the company said: "We saw good revenue growth in Q3 as we continue to strike the right chord with our clients. This broad-based result reflects the ongoing momentum of our key focus areas such as Digital and Managed Services."

Top 7 Key Takeaways From Mindtree Q3 Results
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Here are 7 key takeaways from Mindtree Q3 results

1. Mindtree's revenue increased 33.2 per cent to Rs 1,214.5 crore for the said quarter from Rs 911.7 crore in the year-ago period.

2. Mindtree also announced the acquisition of Magnet 360 for $50 million in cash, a move aimed at addressing the fast-growing cloud-based services market.

3. In dollar terms, the firm reported a 0.2 per cent growth in net profit at $22.8 million and 24.8 per cent rise in revenue to $184.4 million.

4. The company had 294 active clients and 16,243 employees (addition of 1,306 employees at gross level) as of December 31, 2015. The trailing 12 months attrition stood at 16 per cent.

5. Mindtree has recommended an issue of bonus shares in the ratio of 1:1 (one additional equity share for every existing equity share). This will be the second bonus shares issue in the last two years. 

6. The board have declareda third interim dividend of 40% (Rs. 4/- per equity share of par value Rs. 10/- each) for the quarter ended December 31, 2015. Interim dividend will be paid to the registered shareholders before February 05, 2016.

7. Mr Krishnakumar Natarajan is elevated from MD and CEO to Executive Chairman. Executive Director and Head Enterprise Service Lines Rostow Ravanan will replace Natarajan, while Bagchi will continue as an independent director. 

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