Mindtree Technologies Q1FY23 Result 2022 : PAT fall 0.32% to ₹471 Cr, income up 5.8% QOQ| order book up 13.1% YoY

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Mindtree Technologies Ltd delivers digital transformation and technology services from ideation to execution, enabling Global 2000 clients to outperform the competition. “Born digital,” Mindtree takes an agile, collaborative approach to creating customized solutions across the digital value chain.

The company has posted its Q1FY23 financial results today, the details are as below :

(I) Audited Consolidated Financial Results for Quarter Ended (QOQ comparison):

The company has reported, a consolidated Total Income of ₹3,160.6 crore in the quarter ended on June 30, 2022 as against ₹2,987.3 crore in the last quarter ended on Mar 31, 2022, increased by 5.80%.

The company has posted a consolidated Net Profit of ₹471.6 crore in the quarter ended on March 31, 2022 as against ₹473.1 crore in the previous quarter ended on June 30, 2022. The PAT surges down by 0.32%.

The status of the EPS of the company stood at ₹28.57 as on March 31, 2022 compared to the previous quarter ended on June, 2022 which was ₹28.66, down by 0.31%.

₹*June 30, 2022 (Q1FY23) Mar 31, 2022 (Q4FY22)
Total Income3,160.62,987.3
Total Expenses2533.12360.8
PBT /(Loss)625.5626.5
Total Tax /(credit)153.9106.2
PAT /(Loss) [to the owners]471.6473.1
*figures are in Crores

Mindtree Q4FY22 and Year Ended result2022 – know the details here.

(I) Audited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹3,160.6 crore in the financial year ended on June 30, 2022 as against ₹2,363.5 crore for the same quarter ended on last year June 30, 2021 that increased by 33.73%.

The company has posted a consolidated Net Profit of ₹471.6 crore in the financial year ended on June 30, 2022 as against ₹343.4 crore for the same quarter ended on last year June 30, 2021. The PAT surges up by 37.33%.

The status of the EPS of the company stood at ₹28.57 as on June 30, 2022 compared to the quarter ended on last year June 30, 2021 which was ₹20.83, up by 37.16%.

₹*June 30, 2022 (Q1FY23)June 30, 2021(Q1FY22)
Total Income3,160.62,363.5
Total Expenses2,535.11,898.3
PBT /(Loss)625.5465.2
Total Tax /(credit)153.9121.8
PAT /(Loss) [to the owners]471.6343.4
*figures are in Crores
mindtree q1fy23 result 2022- market times

(III) Key Highlights about the Performance :

  • 33.8% YoY EBITDA growth, 39% YoY EBIT growth
  • Healthy order book of $570 million, up 13.1% YoY
  • Client addition: 3 in $10mn+ band, 4 in $20mn+ band
  • Top 20 clients grew 24.3% YoY
  • Cash and investments at an all-time high of $500 million
MindTree cash flow q1fy23 result

Clients:

  • 274 active clients as of June 30, 2022
  • $10 million+ clients increased by 3, total 35
  • $20 million+ clients increased by 4, total 18
  • 37,455 professionals as of June 30, 2022, working right now
  • Trailing 12 months attrition was 24.5%
mindtree q1fy23 result

Some key deals won in Q1FY23:

  1. A leading U.S.-based airline chose Mindtree as a preferred digital product development partner. As part of the multiyear deal, Mindtree will help the airline accelerate growth by transforming its core systems and digital channels.
  2. A healthcare technology provider awarded a three-year digital transformation contract to Mindtree for business-critical application development and maintenance services.
  3. A leading hyperscaler selected Mindtree for a multiyear managed services deal as part of which Mindtree will provide a wide range of technology and program management support to the company’s digital stores worldwide.
  4. A leading global specialty insurance and reinsurance company selected Mindtree as a preferred partner for a multiyear managed services program spanning cloud, IT infrastructure, and security.
  5. A leading audio technology company chose Mindtree as a preferred partner for a multiyear managed services deal consisting of cloud, development, and testing services.
  6. An Australian wealth management group selected Mindtree as a partner of choice for its core modernization and digital transformation program.
Market Times

Shares of MindTree LTd was last trading in BSE at ₹2899.35 as compared to the previous close of ₹2855.45. The total number of shares traded during the day was 53379 in over 6030 trades.

The stock last hit in BSE,

  • Intraday High of ₹ 2915.00
  • Intraday low of ₹ 2853.10