By Malvika Gurung
Investing.com -- The mid-tier IT services company MindTree (NS:MINT) released its earnings result for June 2022 ending quarter post-market hours on Wednesday, reporting a 37.3% YoY jump in consolidated net profit at Rs 472 crore, and a muted performance compared to the previous quarter.
The company’s revenue from operations surged 36.2% YoY and 7,7% QoQ to Rs 3,121 crore.
Its EBITDA margin in the quarter under review stood at 21.1%, compared to 21% in the last quarter and 20.3% in the year-ago quarter, while the EBIT margin climbed to 19.2% in the June 2022 quarter, against 18.9% in Q4 FY22 and 17.7% in Q1 FY23.
Mindtree’s MD & CEO Debashis Chatterjee noted, “We are excited to report a strong start to FY23 with robust revenue growth, solid margin, and a record order book, demonstrating our continued industry-leading growth momentum.”
The IT major’s revenue in constant currency terms rose 5.5% QoQ to $399.3 million, thanks to a healthy demand for our digital capabilities, and the June 2022 quarter was the sixth consecutive quarter of the company reporting over 5% revenue growth in cc.
The June 2022 quarter also witnessed the IT major’s highest ever order book of $570 million, solidifying its value proposition in delivering business-critical transformation at scale.