IT solutions company MindTree Ltd has registered a 16.5 per cent growth in revenue in the fourth quarter of last fiscal compared to the corresponding quarter in the previous year.
The net profit also witnessed a 14 per cent growth in the quarter ended March 31, 2013 compared to the corresponding quarter previous year.
According to MindTree, the revenues stood at Rs 612.4 crore compared with Rs 525.7 crore in the same quarter of the previous fiscal, an increase of 16.5 per cent year-on-year. Net profit during the quarter was Rs 78.9 crore (Rs 69.2 crore), a growth of 14 per cent.
For the full year, the company has posted a 23.3 per cent growth in revenue and a 55 per cent increase in net profit in rupee terms. While the earnings stood at Rs 2,361.80 crore (Rs 1,915.2 crore), the net profit was Rs 338.9 crore (Rs 218.7 crore).
Revenue growth
Commenting on the results, Krishnakumar Natarajan, CEO & MD, said: “In a challenging year, we have delivered revenue growth and better margins.’’
He said the company had performed consistently quarter after quarter, “setting up a platform for continued improvement’’.
He was confident of the company’s investment in “leadership development, brand-building and sales force enhancement’’, will pay off by creating an expertise-led organisation that delivered “sustained growth and shareholder value’’.