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Published on 16/10/2020 11:27:13 AM | Source: Angel Broking Ltd

Quote on Mindtree Q2FY2021 Result Ltd By Mr. Jyoti Roy, Angel Broking Ltd

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Below is the Quote on Mindtree Q2FY2021 Result Ltd By Mr. Jyoti Roy- DVP- Equity Strategist, Angel Broking Ltd

“Mindtree reported a 3.1% qoq growth in revenues to USD 261mn for Q2FY2021. In rupee terms revenue grew by 0.9% qoq to ₹1,926 crore while EBIDTA grew by 8.8% qoq to ₹378.4 crore. EBIDTA margins for the quarter expanded by 142bps qoq to 19.64% due to tight costs control despite rupee appreciation for the quarter. Net profit for the quarter grew by 19.1% qoq to ₹253.7 crore. During the quarter the company reported new deal wins of USD 303mn as compared to USD 361mn in Q1FY2021. While the company did post a growth in revenues it was well short of the growth posted by larger companies like Infosys and TCS. This was largely due to the company’s large exposure to the Travel Tourism and Hospitality segment which is amongst the worst impacted due to the Covid-19 pandemic and due to lack of growth in the top client which accounted for 28.9% of revenues in Q2FY2021. Post the relatively subdued set of numbers for Q2FY2021 markets will look forward to management commentary for the rest of the year.”

 

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