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Mindtree Q3 results update!

Mindtree Q3 results update!

Last updated: 18 Jan, 2021 | 01:01 pm

Mindtree Q3 results update!
  • Profit jumps: Mindtree has recorded an impressive 28.7 % on-quarter growth in consolidated profit at ₹ 326.5 crore for the Oct-Dec 20 period, beating analyst estimates of ₹269 crore. 
  • Broad-based revenue growth: Consolidated revenue grew by 5.1 % on a quarter-on-quarter to ₹2,023.7 crore. It was ₹1,965 crore in the same period last year. Analysts had estimated the revenue to be at ₹1,994 crores for this quarter. The strong growth was backed by growth across verticals and service lines and robust margin expansion.
  • Margins shoot up: EBITDA margin stood at 23%, up 3% on a sequential basis and 7% on a yearly basis. Net profit margin also increased by 3% to 16% in the latest quarter. Margins expanded largely on the back of a  weaker rupee, as IT company’s charge a majority of their U.S. and global clients in dollars.
  • Strong deal wins:  New deals for the quarter stood at $312 million, crossing $ 1billion year to date. The company's active clients stood at 276, adding eight new clients during this quarter.  
  • Management commentary: The company’s CEO said that their third-quarter has by far been the best performing in recent years. He added that  “We are witnessing strong business momentum across all verticals with significant demand for cloud, data and analytics capabilities. We continue to capitalize on the evolving market dynamics with solutions that help enterprises navigate the new normal and grow their businesses.“
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