Thursday 14 November 2019
Home      All news      Contact us      India
business-standard - 28 days ago

Mindtree Jul-Sep net profit down 34.6 pc at Rs 135 cr

IT firm Mindtree on Wednesday reported a 34.6 per cent decline in consolidated net profit to Rs 135 crore for the September quarter, and said it sees a strong deal pipeline in second half of the current fiscal. The company had posted a net profit of Rs 206.3 crore in the same period last year. The Bengaluru-based company saw its revenue grow 9.1 per cent to Rs 1,914.3 crore in the quarter under review from Rs 1,755.4 crore in the year-ago period. Mindtree Chief Financial Officer Pradip Menon said net profit had declined on account of two factors - foreign exchange impact and increase in employee salaries. the growth momentum picks up and the costs stabilise, we will see improvement in margins in the second half, he said on a conference call. In July this year, Larsen and Toubro (L T) had acquired control of Mindtree with over 60 per cent share and was categorised as a promoter. The four co-founders -- Subroto Bagchi, NS Parthasarathy, Krishnakumar Natarajan and Rostow ...

Latest News




Most Popular (6 hours)

Most Popular (24 hours)

Most Popular (a week)