Mindtree Q2 outcomes: Web revenue rises 27.5% to Rs 508 crore

Data expertise firm Mindtree reported a consolidated internet revenue of Rs 508 crore for the quarter ended September 30, 2022, up 27.5 per cent from Rs 398 core reported in the identical quarter of the earlier yr. Its consolidated income for the quarter grew 31.5 per cent year-on-year (YoY) to Rs 3,400 crore from Rs 2,586 crore within the corresponding quarter final yr. 

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The Bengaluru-headquartered firm received eight key offers throughout the quarter. A number one monetary establishment in Europe chosen it as its sole expertise companion to speed up digital transformation spanning knowledge, course of, and expertise over the subsequent 4 years.
 
A Swedish safety merchandise firm chosen the corporate as its major IT companion and signed a five-year managed companies deal, as a part of which, Mindtree will ship international cloud and digital office transformation companies to drive digitalization and standardization throughout the corporate.
 
Mindtree CEO and MD Debashis Chatterjee mentioned the corporate’s strong efficiency within the second quarter of FY23 marked a strong first half of the yr. He additional states that the corporate’s not solely delivered robust revenues of $422.1 million, up 7.2 per cent sequentially in fixed foreign money, but additionally maintained its EBITDA margin at a wholesome 21 per cent regardless of wage hikes throughout the board, making it the seventh consecutive quarter of greater than 5 per cent income progress in fixed foreign money, and eighth consecutive quarter of greater than 20 per cent EBITDA margin.
 
“Notably, with an order e book of $518 million, our H1 signings crossed $1 billion for the primary time in our historical past, due to our means to assist our shoppers deal with digital transformation’s twin aims of income maximization and price optimization,” he mentioned.