Mindtree net rises 37% to ₹471.6 crore in April-June

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.