Mindtree Q3FY22 Earnings: Consolidated PAT up 10% QoQ to Rs 437.5 cr; order book sees over 14% jump

The mid-cap information and technology firm – Mindtree on Thursday reported a robust third qurter earnings for the financial year 2021-2022 (Q3FY22). The company’s consolidated top and bottom-line swelled sequentially, while margins jumped by 100 basis points during the quarter. 

Mindtree registered at least 10 per cent growth in consolidated profit on quarter-on-quarter basis to Rs 437.5 crore in Q3FY22 as compared to Rs 398.8 crore in the previous quarter. While consolidated revenue surged 6.3 per cent to Rs 2750 crore in Q3FY22 versus Rs 2586.2 crore in Q2FY22. 

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Similarly, the company’s consolidated EBIT (Earnings Before Income Tax) grew by 12.6 per cent to Rs 528.9 crore in Q3FY22 as against Rs 469.7 crore in the previous quarter, while the margins too gained by 19.2 per cent in October-December quarter from 18.2 per cent in the earlier quarter. 

In dollar terms, the revenue of the company on consolidated basis surged marginally by $366.4 million as against $350.1 million QoQ. Mindtree reported $358 million deal wins in the third quarter as against $360 million QoQ and attrition rate at 21.9 per cent from 17.7 per cent QoQ. 

In terms of clients, the company has at least 265 active clients as of December 31, 2021, of which $5 million+ clients grew by 2, taking a total to 52 and $10 million+ clients grew by 3, taking total 33, Mindtree said in its filing to exchanges.  

In a management commentary, Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree, said, “Our sequential revenue growth of 5.2 per cent in constant currency reflects the strength of our strategy, execution, partnerships, and continued investments in our business.” 

“Our order book for the quarter was $358 million, up 14.6 per cent year-over-year, and our year-to-date deal TCV crossed $1.2 billion. While our EBITDA margin for the quarter was 21.5 per cent.” 

The passion of our future-ready talent and the trust of our clients position us well in our endeavor to continue to deliver profitable industry-leading growth in the coming years, Chatterjee said.