Indian multinational IT and outsourcing company, Mindtree reported 28.7  pc sequential growth in consolidated profit at Rs 327 crore for the quarter ended December 2020 as compared to Rs 254 crore in Q2 FY21.

Consolidated revenue grew by 5.1  pc quarter-on-quarter to Rs 2,024 crore and dollar revenue increased by 5  pc to USD 274.1 million during the October to December period 2020. The bounce in numbers was backed by growth across verticals and robust margin expansion with a strong order book. "The third quarter has by far been the best performing in recent years, backed by broad-based revenue growth of 5  pc across verticals and service lines, robust margin expansion of 350 basis points and a healthy order book of USD 312 million (against USD 303 million in Q2FY21)," said Debashis Chatterjee, CEO and MD.

 "We are witnessing strong business momentum across all verticals with significant demand for cloud, data and analytics capabilities. Thanks to the strategic focus and hard work of Mindtree Minds, we are now well-positioned to continue delivering profitable growth," he added. Mindtree added eight new clients during the quarter, taking the active clients list to 276 as of December 2020. With 22,195 employees, Mindtree had trailing 12 months attrition at 12.5 pc.

Latest Stock Watch: Shares of Mindtree on Monday closed at Rs 1658 per share down by 2.25 pc from its previous closing on the National Stock Exchange.

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