Mindtree Q4 results net rises 4.7% to Rs 206 cr QOQ

Mindtree Q4 net rises 4.7% to Rs 206 cr QOQ

Debashis Chatterjee, chief executive officer and managing director, Mindtree said he did not see any “significant impact" in business due to Covid-19 in Q4.

Bengaluru: Mindtree Ltd’s net profit for the fourth quarter ended March rose 4.7% q-o-q (Quarter on quarter )and 3.9% annually to Rs 206.2 crore. The Bengaluru-based IT services company’s revenue for the fourth quarter stood at Rs 2,050.5 crore, up 4.3% sequentially and 11.5% on a YOY (Year Over Year) basis.

The closely-watched dollar revenue stood at $278.4 million, up 1.2% sequentially and 6.3% YOY on the back of $393 million worth of deal signings during the quarter.

Debashis Chatterjee, chief executive officer and managing director, Mindtree said he did not see any “significant impact” in business due to Covid-19 in Q4 although “looking ahead to fiscal 2021, we anticipate softness in demand due to the unprecedented Covid-19 pandemic.”

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Its digital business contributed 38.5% to the total revenues for the fourth quarter. As part of its digital initiatives, in December, Mindtree partnered with global software company PTC to launch an India-based centre of excellence called ‘Immersive Aurora’ as a site to develop immersive technology experiences in areas such as augmented reality (AR) and virtual reality (VR).

In terms of verticals, Hi-tech and Media, which contributed 43.1% to the revenues in Q4 continued to grow at 15.2% y-o-y along with Retail, CPG (consumer packaged goods) & Manufacturing which grew 5% YOY.

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