Mindtree Q4 FY2021 results : Company reports 54% increase in net profit at INR317cr

Mindtree Q4 FY2021 results : Mindtree has reported a net profit of INR3.17 billion ($43.3 million) for the fourth quarter of the fiscal year 2021 (Q4 FY2021) that ended 31 March 2021, a 53.9% increase compared to INR2.06 billion ($27.66 million) reported in Q4 FY2020.

The Indian technology consultancy company registered 3.5% year over year (YoY) growth in its fourth quarter FY2021 revenue at INR31.73 million ($288.2 million).

For FY 2020-21 that ended 31 March 2021, Mindtree reported a net profit of INR11.1 billion ($150 million), a 76% growth compared to a net profit of INR6.3 billion ($84.64 million).

As per Mindtree Q4 FY2021 results, the Indian IT company said that it had 270 active clients as of 31 March 2021.

Mindtree Q4 FY2021 results : Company reports 54% increase in net profit at INR317cr. Photo courtesy of Debro99/Wikipedia.org.

The company’s board has recommended a final dividend of 175% at INR17.5 per equity share of par value INR10 each for FY2021, which is subject to shareholders’ approval.

CEO comments on Mindtree Q4 FY2021 results

Commenting on Mindtree Q4 FY2021 results, Debashis Chatterjee – CEO and Managing Director, said: “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.

“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 positions us well to deliver double digit growth and sustain EBITDA above 20%.”