Mindtree Ltd. Result Analysis Q1 FY20-21

Mindtree Ltd. Result Analysis Q1 FY20-21

Mindtree Limited is an Indian multinational information technology and outsourcing company headquartered in Bangalore, India and New Jersey, USA. It part of the Larsen & Toubro group. Founded in 1999, the company employs approximately 21,991 employees with an annual revenue of Rs 7839.9 crore (US$1.1 billion)

Net Sales at Rs 1,908.80 crore in June 2020 up 4.07% from Rs. 1,834.20 crore in June 2019.

Quarterly Net Profit at Rs. 213.00 crore in June 2020 up 129.77% from Rs. 92.70 crore in June 2019.

EBITDA stands at Rs. 362.60 crore in June 2020 up 75.93% from Rs. 206.10 crore in June 2019.

Mindtree EPS has increased to Rs. 12.94 in June 2020 from Rs. 5.64 in June 2019.

Mid-tier IT company, Mindtree, on posted a 129.8 per cent year-on-year (YoY) growth in its consolidated net profit at Rs 213 crore for the quarter ended June 2020 (Q1FY20-21). 

On a sequential basis, the numbers grew 3.3 %

The company's revenue came in at Rs 1,908.8 crore, up 4.1 per cent YoY and down 6.9 per cent QoQ. 

In US dollar terms, revenue stood at $253.2 million, down 4.1 per cent YoY and 9 per cent QoQ. 

Net profit came in at $28.3 million, up 0.1 per cent QoQ and 111.7 per cent YoY. 

Company added 6 new clients during the quarter and it had 292 active clients as of June 30. 

Analysis: Strong backing (promoter) as L&T. This stock can be purchased in mid IT segment.

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