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Mindtree Posts Blockbuster Q2, Muted Commentary Tempers Bullish Sentiment

Mindtree on Thursday posted blockbuster growth in the September quarter, with dollar revenues (including numbers from Bluefin and Relational Solutions - the companies Mindtree acquired in the last quarter) rising 16.4 per cent sequentially to $180.3 million.

Mindtree's organic growth of 8.1 per cent (US dollar) was much higher than what Infosys and TCS posted earlier this week. Mindtree's EBITDA margin rose 90 basis points quarter-on-quarter to 18.5 per cent, in line with estimates.

Digital, which comprises over one-third of Mindtree's revenues, grew by 9.6 per cent during the quarter.

For the full fiscal year, the Bengaluru-based outsourcer expects to grow ahead of the industry average of 12-14 per cent in US dollar revenue growth terms.