DSIJ Mindshare

Mindtree Posts Good Q4 Numbers

A global information technology service provider, Mindtree posted its Q4FY14 results today after market hours. The midcap IT company posted better numbers than street expectations for the said period.

Mindtree posted a 4.19 per cent growth in its topline on sequential basis to Rs. 824 crore during Q4FY14 as against Rs 791 crore in Q3FY14. However, on the bottomline front, the company has posted a handsome growth of 11 per cent with net profit of Rs 98 crore during Q4FY14 against Rs 89 crore in Q3FY14. This good growth, in both revenue and net profit was despite of rupee appreciation during the quarter. The company posted a revenue growth of 4.4 per cent and net profit growth of 11.7 per cent during the said quarter in dollar terms.

The good net profit growth during the fourth quarter was despite of forex loss of Rs 43 crore during same period as against Rs 27 crore in Q3FY14. Interestingly, the EBITDA margins for Mindtree during the quarter under review expanded by 200 basis points on sequential basis to 21.49 per cent during the same period as against 19.49 per cent in Q3FY14.

For the complete FY14, Mindtree reported a net profit of Rs 451 crore, a growth of 33 per cent on yearly basis. In dollar terms too, the net profit of the company increased by 19 per cent to USD 74.6 million. The company posted a revenue of Rs 3032 crore with an yearly growth of 28.4 per cent in FY14 and dollar revenue of USD 501.5 million with an yearly growth of 15.1 per cent.

Mindtree's management announced bonus issue in ratio of 1:1 to its existing shareholders on the occasion of its 15th anniversary and its revenues crossing half a billion dollars. Further, the company also declared third interim dividend of Rs 5 per share and final & special dividend of Rs 5 per share each for completion of 15 years in business.

We advice our readers to remain invested in this stock considering its good performance in this quarter.

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