Mindtree Q4 results posts 20% dip in net profits

by CXOtoday News Desk    Apr 22, 2013

Krishnakumar Natarajan

Mindtree, a software services provider, posted less than healthy results in its fourth quarter with a 20 percent dip in its quarter on quarter net profit at Rs 78.9 crores. In its results released today Mindtree posted revenues at Rs 6,124 crore (growth of 3.8 percent QoQ  or 16.5 percent year-on-year).

According to the results, as of the last quarter, Mindtree had 232 active customers and $20 million customers increased by 1 to 5. The employee strength is 11,591 employees as of March 31, 2013 and added 974 employees during the quarter on a gross basis.

The Board of Directors, at its meeting held on April 22, 2013, recommended an interim dividend of 40 percent (Rs 4 per equity share of par value Rs 10 each) and a final dividend of 50 percent (Rs 5 per equity share of par value Rs 10 each) for the year ended March 31, 2013, subject to approval by shareholders at the forthcoming AGM.  Alongwith the interim dividend of 30 percent.

“FY 12-13 has been a landmark year for Mindtree. In a challenging year, we have delivered revenue growth and better margins. We have also delivered consistently quarter after quarter, setting up a platform for continued improvements. We have made solid investments in leadership development, brand building and sales force enhancement. We are confident that all these will help us create an expertise led organization that delivers sustained growth and shareholder value” said Krishnakumar Natarajan, CEO & Managing Director, Mindtree Limited.