Midcap IT providers firm Mindtree Ltd on Wednesday reported a 37.3% year-on-year progress in its consolidated web revenue at ₹471.6 crore for the quarter ending 30 June, 2022 as in comparison with ₹343.3 crore in the identical quarter final 12 months.
Income from operations, in the meantime, rose 36.2% to ₹3,121 crore as in comparison with ₹2,291.7 crore within the year-ago interval.
Ebit margin for the quarter got here in at 19.2% as in comparison with 18.9% in March and 17.7% within the June quarter of 2021.
The Bengaluru-based firm’s web revenue at ₹471.6 crore translated right into a sequential dip of 0.3% when seen quarter-on-quarter (q-o-q).
Debashis Chatterjee, Chief Govt Officer and Managing Director, Mindtree, stated, “We’re excited to report a powerful begin to FY23 with sturdy income progress, stable margin, and a document order e book, demonstrating our continued industry-leading progress momentum.”
“With revenues of $399.3 million, up 5.5% sequentially in fixed foreign money on the again of a wholesome demand for our digital capabilities, this was our sixth consecutive quarter of greater than 5% income progress in fixed foreign money,” Chatterjee additional stated.
The corporate’s highest-ever order e book of $570 million displays the relevance of Mindtree’s worth proposition in delivering business-critical transformation at scale, Chatterjee stated.
“Our EBITDA was 21.1%, underscoring our disciplined execution and operational rigor. Our highest-ever order e book of $570 million displays the relevance of our worth proposition in delivering business-critical transformation at scale,” he added.
Shares of MindTree Ltd closed 2.01% up at ₹2,911.00 apiece on the NSE at this time.
Obtain The Mint Information App to get Every day Market Updates & Dwell Enterprise Information.
Extra
Much less
Supply: Live Mint