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Mindtree Q4 PAT slips 2.8% QoQ to Rs 317.30 cr

16-Apr-21 17:19 Hrs IST

In dollar terms, the company posted a decline of 1.9% in consolidated net profit to $43.3 million on a 5.2% increase in revenues to $288.2 million in Q4 FY21 over Q3 FY21.

EBITDA in the fourth quarter fell 1.1% to Rs 462.6 crore from Rs 467.90 crore in the same period last year. EBITDA margin was at 21.9% as on 31 March 2021 compared with 23.1% as on 31 December 2020.

As compared to Q3 FY21, Mindtree has added one client in $5 million category during the quarter, but witnessed reduction of 2 clients in $1 million band and 1 client in $10 million band. The total active clients at the end of March 2021 stood at 270, down from 276 clients seen at the end of December 2020.

The midcap IT firm reported 76% jump in consolidated net profit to Rs 1,110.50 crore on 2.6% rise in revenue to Rs 7967.80 crore in the year ended on 31 March 2021 over the year ended on 31 March 2020.

Total employee headcount was at 23,814 in Q4 FY21 as against 22,195 in Q3 FY21. The attrition rate (of last twelve months) at 12.1% at the end of March quarter 2021, has fallen from 12.5% seen at December 2020.

The company has a healthy order book of $1,382 million with a growth of 12.3% for FY21.

Debashis Chatterjee, chief executive officer and managing director, Mindtree, said: We are proud to deliver another strong quarter, driven by significant traction in our client portfolio globally, leading to revenue growth of 5.2%, EBITDA of 21.9%, and an order book of $375 M at the end of Q4. For the year, we delivered revenues of $1,076.5 M and margin expansion of 680 bps, while increasing our order book by 12.3%.

As we enter FY22, we are confident that continued client demand for our transformative services, a strong order book, and our strategic investments positions us well to deliver double digit growth and sustain EBITDA above 20%.

The board of directors of the company have recommended a final dividend of Rs 17.5 per equity share for the financial year ended 31 March 2021, which is subject to the approval of shareholders at the annual general meeting.

MindTree is an international information technology consulting and implementation company that delivers business solutions through global software development.

The scrip rose 0.17% to Rs 2067.60 today. It traded in the range of 2047 and 2142.70 during the day.