InvestorQ : How were the results of Mindtree for the first quarter ended June 2022?
Tisha Malhotra made post

How were the results of Mindtree for the first quarter ended June 2022?

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Aashna Tripathi answered.
1 month ago
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Mindtree, which is currently majority owned by the Larsen & Toubro group, reported a sharp 37% growth in net profits at Rs472 crore for the June 2022 quarter. This is despite overall pressure on the IT sector profitability on account of higher costs. Top line revenues from operations grew 36% to Rs3,121 crore for Q1FY23.

This incidentally marks the sixth consecutive quarter for Mindtree showing more than 5% revenue growth in constant currency terms. EBITDA margins for Mindtree were relatively robust at 21.1%, while its order book stood at $570 million. The company is likely to fructify the proposed merger with L&T Infotech during fiscal 2023 for better business traction.

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