Mindtree Surges 9 percent, post quarterly results

Published On: Wednesday, July 14, 2021 | By:

Mindtree Surges 9 percent, post quarterly results

Shares of Mindtree surged 9 percent to hit a new high of Rs 2,721 on the BSE in intra-day trade on Wednesday after the information technology (IT) consulting and services company reported a healthy set of numbers for the quarter ended June 2021. Mindtree's Q1 net profit rose to ₹343.3 crores, up reported a 61% YoY and 8% QoQ. Its revenue in dollar terms came at $310.5 million, witnessing a growth of 7.7% quarter-on-quarter (QoQ) and 22.6% YoY. The IT company recorded its highest-ever order book of half a billion US dollars, a growth of 34% QoQ. The company said it is witnessing broad-based growth across industries and services and that its deal pipeline continues to remain strong. “We are pleased to report a strong start to FY22 with broad-based first-quarter growth across all service lines and industry segments," said Debashis Chatterjee, chief executive officer, and managing director, Mindtree.

Our highest ever order book of $504 million affirms that the focused execution of our strategy and our client-centricity in re-imagining business models for the digital era is helping us drive profitable and sustainable growth, Chatterjee said, adding that we are proud of the passion and perseverance with which Mindtree Minds have continued to deliver value to our clients and exceed their expectations despite difficult conditions.

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