Conference Call with MindTree Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting and Services company MindTree announced Q2FY23 results: In US$: Revenue was $422.1 million (growth of 5.7% QoQ / 20.6% YoY) Net profit was $63.1 million (growth of 4.6% QoQ / 16.9% YoY) In Rs: Revenue was Rs 34,004 million (growth of 8.9% QoQ / 31.5% YoY) Net profit was Rs 5,087 million (growth of 7.9% QoQ / 27.5% YoY) “Our robust performance in the second quarter of FY23 marked a solid first half of the year,” said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree. “We not only delivered strong revenues of $ 422.1 million, up 7.2% sequentially in constant currency, but also maintained our EBITDA margin at a healthy 21% despite wage hikes across the board, making it our seventh consecutive quarter of more than 5% revenue growth in constant currency, and eighth consecutive quarter of more than 20% EBITDA margin. Notably, with an order book of USD 518 million, our H1 signings crossed $ 1 billion for the first time in our history, thanks to our ability to help our clients address digital transformation’s dual objectives of revenue maximization and cost optimization. We owe our consistent profitable growth to the confidence that our clients and partners have placed in our vision, and to the passion of our more than 38,200 talented professionals who live and breathe that vision every day.” Result PDF