CHENNAI: Bengaluru-based software firm Mindtree on Wednesday reported a 37 per cent jump in net profit at Rs 141.5 crore for the quarter ended December 2017, up from Rs 103.1 crore in the year-ago period. Total income rose 5.3 per cent to Rs 1,383.6 crore from Rs 1,309.7 crore.
CEO and MD Rostow Ravanan stated that the company will grow its revenues in “high single digits” for the January-December quarter. “This has been our best Q3 since 2011, which is typically a seasonally weak quarter for the industry,” he said, adding the company has a healthy pipeline of projects.
In dollar terms, the company’s net profit grew 44.1 per cent to $22 million in the reporting quarter, while revenue was up 11.5 per cent to $214.3 million.
Addressing reporters at its third-quarter results conference call, Ravanan said the mid-sized company would go on with its hiring plans for the year. Mindtree’s headcount stood at 17,200 at the end of the quarter.