IT services company Mindtree Ltd on Monday reported 49%
year-on-year growth in March quarter net profit at Rs 473 crore as compared to
Rs 317 crore in the corresponding quarter previous year.

Consolidated revenue from operations rose 37.4% to Rs
2,897 crore as compared to Rs 2,109 crore in the last year period.

For fiscal 2021-22, the consolidated net profit of
Mindtree rose by 48.8% to Rs 1,652.9 crore from Rs 1,110.5 crore in the
financial year 2021-22.

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On Monday, Mindtree shares closed 3.27% lower at Rs 3,965
per share on National Stock Exchange (NSE).

“Our industry-leading growth through a year of rapid
business and technology shifts demonstrates the relevance of our value
proposition in reimagining businesses and driving digital transformation at
scale,” said Mindtree CEO and MD Debashis Chatterjee.

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“Our full-year revenue growth of 31.1 per cent
validates our strategy to capitalise on rising demand by diversifying our
services portfolio, mining customers, and broadening industry
partnerships,” he added.

The board of directors of Mindtree also recommended a
final dividend of Rs 27 per equity share for the financial year ended March 31,
2022. The dividend is subject to the approval of shareholders.

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Chatterjee said a full-year dividend of Rs 37 per share
announced by the company is the highest in its history.

“We increasing investment in metaverse
technology,” he informed further.

The L&T Group company’s EBITDA margin stood at 20.9% and its Profit
after tax (PAT) margin of 15.7%, the highest in a decade.

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In dollar terms, revenue during the reported quarter
stood at $383.8 million, witnessing a growth of 4.8% QoQ and 33.3% YoY. Net
profit was $62.7 million, growing 7.6% QoQ and 44.8% YoY.

The company has 276 active clients as of March 31, 2022.
$5 million-plus clients increased by 4 to a total of 56 and $20 million-plus
clients increased by 5 to a total of 14.

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It employed 35,071
professionals as of March 31, 2022. The attrition rate in the past 12-months
was 23.8%.