Mindtree's fourth quarter consolidated net profit declined 8.4 percent sequentially to Rs 129 crore that fell short of expectations on Thursday, impacted by forex loss. Profit was expected at Rs 134 crore for the quarter, according to a CNBC-TV18 poll.
Mindtree 's fourth quarter consolidated net profit declined 8.4 percent sequentially to Rs 129 crore that fell short of expectations on Thursday, impacted by forex loss. Profit was expected at Rs 134 crore for the quarter, according to a CNBC-TV18 poll.
Revenues were in line during the quarter. Rupee revenue grew 0.7 percent to Rs 918 crore and dollar revenue increased to USD 147.8 million from USD 147.7 million on sequential basis. Dollar revenue growth in constant currency was 1.8 percent on sequential basis.
The software services exporter has reported a forex loss of Rs 13 crore for the quarter against gain of Rs 7 crore in December quarter.
Mindtree missed on operational front as operating profit dropped 5.3 percent to Rs 179 crore and margin declined 120 basis points to 19.5 percent in the quarter gone by. Those were expected at Rs 181.5 crore and 19.8 percent, respectively.
Other income more than doubled to Rs 30.4 crore from Rs 14 crore during the same period.
For FY15, the company exceeded NASSCOM's dollar revenue growth estimate of 12.3 percent. It reported dollar revenue at USD 583.8 million, a growth of 16.4 percent over previous financial year and rupee revenue at Rs 3,561.9 crore, up 17.5 percent.
Mindtree said it has 217 active clients as of March 2015, adding USD 10 million clients increased to 14 and USD 5 million clients rose to 28 during the quarter.
Attrition rate inched up a bit by 10 basis points to 18.2 percent in March quarter from 18.1 percent in previous quarter.
The company has recommended a final dividend of Rs 10 per equity share for the year ended March 31, 2015.
The scrip of Mindtree (which announced earnings post market hours) closed at Rs 1,391.25, down 2.58 percent on the BSE.
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