Bangalore : Mid-sized IT firm Mindtree on Monday reported 49 percent Year on Year (YoY) growth in its net profit at Rs.473 crore in the fourth quarter of FY22.The company had posted a net profit of Rs 317 crore in the same quarter last year.
The company’s revenue during the quarter grew by 37% (YoY) to Rs.2897 crore.
In the whole 2021-22 financial year, the company’s net profit grew by 48.8 % to R.1652 crore and revenue grew by 23% to 10,525 crore.
The Board of Directors of the company has recommended a final dividend of 270% (Rs.27 per equity share of par value Rs.10 each) for the financial year ended March 31, 2022.
“Our industry-leading growth through a year of rapid business and technology shifts demonstrates the relevance of our value proposition in reimagining businesses and driving digital transformation at scale,” said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree.
“Our sequential revenue growth of 5.2% in constant currency made this our fifth consecutive quarter of 5%- plus growth in constant currency. Our full year revenue growth of 31.1% validates our strategy to capitalize on rising demand by diversifying our services portfolio, mining customers, and broadening industry partnerships. We are proud to have delivered EBITDA margin of 20.9% and PAT margin of 15.7%, our highest in a decade. Our commitment to creating value for shareholders is reaffirmed by an EPS of Rs.100.2, our highest-ever adjusted for bonuses, and a full year dividend of Rs.37 per share, the highest in our history. The passion of our teams and the trust of our customers will help our endeavor to deliver profitable industry-leading growth in the coming year as well” he added.