Mindtree net rises 37% to ₹471.6 crore in April-June
The Hindu
Revenue came in at ₹3,121.1 crore, logging a growth of over 36%
IT company Mindtree on Wednesday posted a 37.3% rise in net profit to ₹471.6 crore for the three months ended on June 30.
The company had reported a net profit of ₹343.4 crore in the corresponding quarter of the previous fiscal.
The revenue for the current fiscal's first quarter came in at ₹3,121.1 crore, logging a growth of over 36% year-on-year.
"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," Debashis Chatterjee, Chief Executive Officer and Managing Director of Mindtree, said in a statement.
The company's highest-ever order book of $570 million reflects the relevance of Mindtree's value proposition in delivering business-critical transformation at scale, Mr. Chatterjee added.
The net profit at ₹471.6 crore translated into a sequential dip of 0.3% when seen quarter-on-quarter (q-o-q) and a growth of 37.3% year-on-year (y-o-y).
"Revenue was ₹31,211 million (growth of 7.7% q-o-q /36.2% y-o-y)," the statement said.
The Thane police have arrested two co-founders of cryptocurrency exchange platform CoinDCX in connection with an alleged fraud of Rs 71.6 lakh, officials said
Meta Chief Executive Mark Zuckerberg is building a CEO agent to help him do his job, the Wall Street Journal reported
Insurance penetration and density are often misunderstood and do not reveal how many families are insured or whether they would be financially secure if the main earning member were to die. The real issue is not reach but adequacy, as households may have life insurance but not enough cover to replace lost income, leaving them financially vulnerable.
Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.
L&T confirms 95% of its West Asia project sites are safe, while addressing logistics challenges amid ongoing regional conflicts.
Mines Ministry to auction 19 critical mineral blocks on March 23, expanding strategic resources for clean energy and technology sectors.
Mines Ministry to auction 19 critical mineral blocks on March 23, expanding strategic resources for clean energy and technology sectors.
Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.
HDFC Bank terminates three senior officials over client onboarding issues at its DIFC branch amid ethical concerns following chairman's resignation.
Air India CEO warns of potential flight cuts and reduced travel demand due to rising fuel costs amid ongoing Gulf conflict.
Options are widely used by retail traders to speculate on the value of the stock for immediate gains and such behaviour in large scale can distort the market
India achieves 1 billion tonne coal production for the second consecutive year, ensuring stable energy supply and economic growth.
Generic drugmakers in India launch affordable Semaglutide versions, targeting a $1 billion diabetes and weight loss market.