Mindtree

After the bigcap companies, TCS and Infosys disappointing performance, it came as no surprise to see Mindtree also show pressure but seems to be much better off than the big guys.

For Q4FY17, the company posted a 6% (QoQ) drop in consolidated net profit at Rs.97 crore though its revenue – both in rupee as well as dollar were up. Its consolidated rupee revenue rose 2% at Rs.1318 crore while $ revenue also rose 2% at US$196 crore.

Its EBITDA came in at Rs.187 crore, up 7% and margins were up from 13.4% to 14.18% (QoQ).

For FY17, the company’s net profit showed a 24% to Rs.419 crore on a 12% rise in revenue at Rs.5236. Dollar revenue was up 9% at US$779.80 million.

The company has 328 active clients at end of FY17 and it added 5 new clients in the above US$! Million category, whose tally now stands at 111.

The company has done much better than what was expected and seems to have settled down with its Bluefin but one has to wait and watch to say that it is completely out of the woods.