Investor Alert: Mindtree announces dividend of Rs 7.5 per share; improves Q2 profit

Mindtree’s on Thursday declared an interim dividend of 75 per cent at Rs 7.5 per equity share of par value Rs 10 each. The IT company announced its Q2 FY21 results reporting a net profit at Rs 2,537 million grew by over 19 per cent quarter-on-quarter (QoQ) while its revenues were marginally up at Rs 19,260 million – a growth of 0.9 per cent QoQ  while 0.6 per cent on the  Y-o-Y. basis. 

“I am pleased and encouraged with our performance in delivering a broad-based growth with revenue of $261M and EBITDA of 19.6% for the quarter. We appreciate the trust from our clients and thank our employees for their unrelenting dedication and collaborative spirit during these unprecedented times. Our approach of Redefining Possibilities in the new normal for businesses enabled us to deliver a balanced H1 performance,” Debashis Chatterjee, Chief Executive Officer and Managing Director at Mindtree said.  

This has helped to reinforce confidence on our strategy to build on existing strengths and drive profitable growth by being the business transformation partner for our clients, developing future ready talent and delivering value to all our stakeholders,” Chatterjee said.  

See other highlights: 

Its EBITDA Margin for the reporting quarter was 13 per cent as against 18.2 per cent 19.6 per cent during the corresponding period in FY20. 

283 active clients as of September 30, 2020 o 8 new clients added during the quarter o $10 million clients grew by 1, total 24. 

Net profit improved by 200 basis point QoQ.  

The company had 21,827 employees as of 30 September 2020 while attrition stood 13.8 per cent on trailing 12 months basis.