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Mind tree Q2 net profit up 78% to Rs 12 Cr

Mid-sized software company MindTree posted a 77.8% growth in net profit at `128.7 crore for the second quarter ended September 2013 on the back of a strong growth in manufacturing and retail vertical.

Published: 17th October 2013 06:00 AM  |   Last Updated: 17th October 2013 12:36 AM   |  A+A-

Mid-sized software company MindTree posted a 77.8% growth in net profit at Rs128.7 crore for the second quarter ended September 2013 on the back of a strong growth in manufacturing and retail vertical.

Its net profit stood at Rs 72.4 crore for the July-September 2012 quarter.

In dollar terms, the company’s net profit grew 61.2 per cent year-on-year to $20.7 million, while revenue was up 15.6 per cent at $124 million.

“The relentless execution of our new strategies has delivered two consecutive quarters of strong revenue growth this year. We continue to invest in expertise-led solutions and attracting top quality industry talent. This drives positive business outcomes for our customers while achieving sustainable growth” Krishnakumar Natarajan, CEO and MD  of the company said.

The company has a total number of 220 active customers at the end of the second quarter. It added 1,122 employees during the quarter on a gross basis, taking the total head-count to 12,941 people as on September 30, 2013.



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