Mindtree Q2 net profit at Rs.1247mn

Mindtree Q2 net profit at Rs.1247mn

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Mindtree, a global Digital transformation and technology services company, announced its consolidated results today for the second quarter endedSeptember 30, 2017 as approved by its Board of Directors.

“Mindtree is on a steady growth trajectory in an evolving marketplace. Our ability to address shifting customer expectations through our innate capabilities in digital as well as traditional services have driven great business outcomes for our clients” said Rostow Ravanan, CEO & Managing Director, Mindtree.

Revenue stood at Rs. 13,316 mn (growth of 3.3% q-o-q / 2.8% y-o-y), while Net profit was at Rs. 1,247 million (growth of 2.5% q-o-q / 31.6% y-o-y).

The Board of Directors at its meeting held on October 25, 2017 have recommended an interim dividend of 20% ( Rs. 2 per equity share of par value Rs. 10 each) and a special dividend of 20% (Rs.2 per equity share of par value Rs. 10 each) on completion of ten years of Initial Public Offering (IPO).

During the quarter ended September 30, 2017, the company received the required regulatory approvals to transfer the business and net assets of our wholly owned subsidiary, Bluefin Solutions Limited, UK (‘Bluefin’) to the Company.