Mindtree

The stock remained around its 52-week high levels yesterday. The numbers came in after market closing and it was a good set of numbers, beating all estimates.  The company’s rupee revenue at Rs.648 crore was up 15% YoY and 6% QoQ. Net profit came in at Rs.135 crore, up 52% YoY and a whopping 72% rise sequentially.  In terms of dollar revenue, it was at $117.7 million, up 4% QoQ and 12% YoY while net profit was up 69% QoQ and 47% YoY at $25 million.  This major surge in net profit, much higher than the rise in revenue was on account of the falling rupee v/s the US$, giving the company the advantage of a forex gain of Rs.62 crore in Q1 v/s loss of Rs.15 crore in Q4.

In terms of segment break-up of revenue, hitech remains the largest contributor at 29% of total revenue, up 3% (QoQ). Manufacturing rose 11%,  BFSI also rose 11% while travel and transport rose 4%. Cash and cash balances at end of Q1 was at Rs.95 crore, down from Rs.125 crore at end of Q4FY13. During the quarter, the company had 222 active clients. It added 1057 employees taking the total tally of employees to 12,239.