MindTree Q3 net up 7.2% at Rs 150.9 cr

18/01/2016 17:17

IT services provider, MindTree Ltd has reported an increase of 7.2 per cent in its consolidated net profit at Rs 150.9 crore for the third quarter ended December 31, 2015.

The company had posted a consolidated net profit of Rs 140.8 crore in the same quarter last year, the company said in a filing to the Bombay Stock Exchange.

During the quarter under review, total income of the company grew 31.8 per cent to Rs 1219.7 crore from Rs 925.7 crore in corresponding quarter last year.

Commenting on the performance, MindTree, CEO and Managing Director, Krishnakumar Natarajan, said, “We saw good revenue growth in Q3 as we continue to strike the right chord with our clients. This broad-based result reflects the ongoing momentum of our key focus areas such as Digital and Managed Services. Those initiatives combined with our recent acquisitions and deal wins are creating a clear path to further our growth trajectory.”

Further, the company in a separate filing have recommended for the consent and approval of the Members for the issue of Bonus Shares to the holders of Equity Share/s of the Company in the ratio of 1:1 (i.e., one Bonus Equity Share of Rs. 10/- each, for every one fully paid up Equity Share of Rs. 10/- each held).

The board of directors have also declared an interim dividend of 40 per cent for the quarter ended December 31, 2015.

Meanwhile, shares of the company closed trading at Rs 1469.60 apiece, down 4.51 per cent from the previous close on BSE.

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