Mid-sized IT firm Mindtree Wednesday said its consolidated net profit grew 8.9 per cent to Rs 198.4 crore for the March 2019 quarter, from Rs 182.2 crore in the year-ago period. The Bengaluru-based company's revenue also increased by 25.6 per cent to Rs 1,839.4 crore in the said quarter, as compared to Rs 1,464 crore in the year-ago period, Mindtree said in a regulatory filing. Mindtree, which is facing a hostile takeover bid by infrastructure giant L&T, said its board has also declared an interim dividend of Rs 3 per equity share, and recommended a special dividend of 200 per cent (Rs 20 a share) to "celebrate the twin achievements of exceeding USD 1 billion annual revenue milestone and 20th anniversary of the company" subject to shareholders' nod.

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"Mindtree has delivered exceptional performance for both the fourth quarter and the full fiscal year as we cross the historic USD 1 billion milestone. Over the course of two decades our strategy of being expertise-led and backed by a unique culture continues to help us attract world class people and create customer successes," Mindtree CEO and Managing Director Rostow Ravanan said.

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He added that the company is "well-poised to continue delivering industry leading returns for all our stakeholders, the best is yet to come". 

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Mindtree's FY'19 net profit grew 32.2 per cent to Rs 754.1 crore, while revenue was up 28.5 per cent to Rs 7,021.5 crore from the previous fiscal.