<p class="title">IT firm Mindtree on Wednesday reported a 34.6 per cent decline in consolidated net profit at Rs 135 crore for the quarter ended September 30, 2019.</p>.<p class="bodytext">The company had posted a net profit of Rs 206.3 crore in the same period last year, Mindtree said in a regulatory filing.</p>.<p class="bodytext">The Bengaluru-based company saw its revenue grow 9.1 per cent to Rs 1,914.3 crore in the quarter under review from Rs 1,755.4 crore in the year-ago period, it added.</p>.<p class="bodytext">In dollar terms, the net profit declined 34.1 per cent to USD 19.2 million, while revenue increased 10 per cent to USD 271 million in the said quarter over the year-ago period.</p>.<p class="bodytext">In constant currency terms (eliminating currency fluctuation from financial performance), revenue was up 3.2 per cent sequentially and 11.1 per cent year-on-year (y-o-y).</p>.<p class="bodytext">Mindtree's second quarter performance of double digit y-o-y revenue growth reflects the company's client centricity, employees' winning spirit and innovation, Mindtree CEO Debashis Chatterjee said.</p>.<p class="bodytext">"We stay committed in strengthening our execution to invest in growth and drive shareholder value," he added.</p>.<p class="bodytext">In July this year, Mindtree, in a regulatory filing, had said that Larsen and Toubro (L&T) had "acquired control" of the company with a 60.06 per cent stake and had been categorised as promoter.</p>.<p class="bodytext">At the end of the September quarter, the company's active client base stood at 343. It had 21,267 employees at the end of the second quarter with trailing 12-months attrition at 16.5 per cent.</p>.<p class="bodytext">Its digital business grew 18.8 per cent y-o-y, and the company recorded a 13.3 per cent y-o-y growth in total contract value in the quarter under review.</p>
<p class="title">IT firm Mindtree on Wednesday reported a 34.6 per cent decline in consolidated net profit at Rs 135 crore for the quarter ended September 30, 2019.</p>.<p class="bodytext">The company had posted a net profit of Rs 206.3 crore in the same period last year, Mindtree said in a regulatory filing.</p>.<p class="bodytext">The Bengaluru-based company saw its revenue grow 9.1 per cent to Rs 1,914.3 crore in the quarter under review from Rs 1,755.4 crore in the year-ago period, it added.</p>.<p class="bodytext">In dollar terms, the net profit declined 34.1 per cent to USD 19.2 million, while revenue increased 10 per cent to USD 271 million in the said quarter over the year-ago period.</p>.<p class="bodytext">In constant currency terms (eliminating currency fluctuation from financial performance), revenue was up 3.2 per cent sequentially and 11.1 per cent year-on-year (y-o-y).</p>.<p class="bodytext">Mindtree's second quarter performance of double digit y-o-y revenue growth reflects the company's client centricity, employees' winning spirit and innovation, Mindtree CEO Debashis Chatterjee said.</p>.<p class="bodytext">"We stay committed in strengthening our execution to invest in growth and drive shareholder value," he added.</p>.<p class="bodytext">In July this year, Mindtree, in a regulatory filing, had said that Larsen and Toubro (L&T) had "acquired control" of the company with a 60.06 per cent stake and had been categorised as promoter.</p>.<p class="bodytext">At the end of the September quarter, the company's active client base stood at 343. It had 21,267 employees at the end of the second quarter with trailing 12-months attrition at 16.5 per cent.</p>.<p class="bodytext">Its digital business grew 18.8 per cent y-o-y, and the company recorded a 13.3 per cent y-o-y growth in total contract value in the quarter under review.</p>