Mindtree reports robust revenue growth of 5.2% q-o-q in USD; Recommends final dividend of ₹17.5 per share

BANGALORE, India and WARREN, N.J., April 16, 2021 /PRNewswire/ -- Mindtree, a global technology services and digital transformation company guiding its clients to achieve faster business outcomes, announced its consolidated results today for the fourth quarter ended March 31, 2021, as approved by its board of directors. 

"We are proud to deliver another strong quarter, driven by significant traction in our client portfolio globally, leading to revenue growth of 5.2%, EBITDA of 21.9%, and an order book of $375 M at the end of Q4. Our journey of profitable growth and seamless delivery during the pandemic year has been made possible by the resilience of Mindtree Minds, the commitment of our leadership team, and above all, the continued support of our clients," said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree. "The final dividend of ₹17.5 per share announced today reinforces Mindtree's commitment to enhance shareholder value. For the year, we delivered revenues of $1,076.5 M and margin expansion of 680 bps, while increasing our order book by 12.3%. As we enter FY22, we are confident that continued client demand for our transformative services, a strong order book, and our strategic investments position us well to deliver double digit growth and sustain EBITDA above 20%."

Key financial highlights:                                       

Quarter ended March 31, 2021

• In USD:
• Revenue at $288.2 million (growth of 5.2% q-o-q / 3.5% y-o-y)
• Net profit at $43.3 million (decline of 1.9% q-o-q / growth of 53.4% y-o-y)
  
• In INR:
• Revenue at ₹21,093 million (growth of 4.2% q-o-q / 2.9% y-o-y)
• Net profit at ₹3,173 million (decline of 2.8% q-o-q / 53.9% y-o-y)

Year ended March 31, 2021

• In USD terms:
• Revenue at $1,076.5 million (decline of 1.1%)
• Net profit at $150.0 million (growth of 69.6%)
  
• In Rupee terms:
• Revenue at ₹ 79,678 million (growth of 2.6%)
• Net profit at ₹ 11,105 million (growth of 76.0%)

Other highlights:

• Clients:
• 270 active clients as of March 31, 2021
• $5 million clients grew by 1, total 44