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Mindtree Q2 net up 6.8 %

BANGALORE: Mid-sized IT services company Mindtree on Wednesday reported a net profit of Rs.137.40 crore for the second quarter ended September 30, 2014, against Rs.128.7 crore in the corresponding quarter of the previous year, a growth of 6.8 percent.

Total revenue has risen by 15.5 percent to Rs.888.6 crore from Rs.769.6 crore. The company attributed the growth in profit to the increase in other income and forex gains.

On a quarterly basis, the company's net profit grew 6.2 percent while the revenue grew by 5.3 percent.

"Our deep expertise in Digital and Infrastructure Services has led to continued opportunities to help our clients differentiate their business. Our strategy of becoming a leader in digital solutions is continuing to bear fruit and has contributed to another strong growth quarter for Mindtree" said Krishnakumar Natarajan, CEO & Managing Director, Mindtree.

The company also said at the end of the second quarter, the total number of clients stood at 200. At the end of July-September quarter, the company had four $30 million clients, while the number of $20 million and $5 million client segment stood at seven and 27 respectively.