MindTree declares FY Fourth-Quarter Results

MindTree has announced its results for the fourth quarter and year ended March 31, 2013, as approved by its Board of Directors.

The key highlights of the results reveal that the company has earned a net profit of 55% which is at Rs.789 million, showing a decline of 20.1 % q-o-q but a growth rate of 14 % y-o-y. The revenue received is at Rs.6,124 million with a growth of 3.8% q-o-q and 16.5% y-o-y. The year ending revenue showed a net profit of Rs.3,389 million which has grown up by 55 %. The revenue generated is Rs.23,618 million up by 23.3 %.

The company added 232 new active customers as of March 31, 2013. $20 million customers increased by 1 to 5. MindTree added 974 employees during the quarter on a gross basis, whereas 11,951 employees were added as of March 31, 2013.

As per the report, MindTree will provide service desk and End User Computing (EUC) services for its users across multiple countries. The company will also provide managed services for application and infrastructure support.

The Board of Directors has recommended an interim dividend of 40% (Rs.4 per equity share of par value Rs.10 each) and a final dividend of 50% (Rs.5 per equity share of par value Rs.10 each) for the year ended March 31, 2013. Along with the interim dividend of 30% (Rs.3 per equity share of par value Rs.10 each) declared in October 2012, the total dividend for the year comes to 120% (Rs.12 per equity share of par value Rs.10 each).