Mindtree gets thumbs up

Most had expected a weak set of earnings from Mindtree for Q4FY21 – weak is was but not as bad as expected.

The company posted a consolidated net profit of Rs.317 crore, down 3% (QoQ) on a 4% rise in revenue at Rs.2109 crore.  Its EBIT fell 1% to Rs.462 crore while EBIT margin came in at 21.9%, contraction of 120 bps.

In US dollar terms, revenue grew 5% to $288 million while order book was at $375 million.

The company had 270 active clients as of March 31, 2021 and its $5 million clients grew by 1, with total tally at 44.

Its employee count stands at 23,814 with trailing 12 months attrition at 12.1%.

The company also recommended a final dividend of 175% (Rs 17.5 per equity share of par value Rs 10 each) for the financial year ended March 31, 2021.

The market has definitely given this performance a thumbs up as the stock opened with a positive bias and then rose to hit an intraday high at Rs.2133.70, up over 3% on the back of good volumes. Its 52-week high is at Rs.2275.10.