Mindtree Q1 Net Profit Rises; Revenue Down 4.1% - Quick Facts

Mindtree Limited (MINDTREE), a global technology consulting and services company, reported first quarter net profit of $28.3 million, an increase of 111.7% year-over-year. EBITDA was $46.1 million compared to $26.5 million, a year ago. Revenue was at $253.2 million, down 4.1% from last year.

"We closed the quarter with a healthy order book of $391 million despite the global headwinds due to Covid-19 pandemic," said Debashis Chatterjee, CEO and Managing Director, Mindtree.

The company has 292 active clients as of June 30, 2020 with 6 new clients added during the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) reported a profit for the second-quarter that climbed 72.18 percent from the previous year, reflecting higher-than-expected chip prices and continued consumer demand for electronics during the pandemic. Quarterly revenue grew 20.21 percent from the prior year. Flavor maker McCormick & Co., Inc. is recalling certain McCormick and Frank's brand seasoning products citing possible salmonella risk, the U.S. Food and Drug Administration said. The recall involves McCormick Perfect Pinch Italian Seasoning, McCormick Culinary Italian Seasoning and Frank's RedHot Buffalo Ranch Seasoning. Drug major Pfizer Inc. raised Wednesday its outlook for fiscal 2021 earnings and revenues following strong second quarter results that exceeded market estimates. According to the company, the upward revision in full-year outlook, for the second quarter in a row, reflects its updated expectations for contributions to 2021 performance from both BNT162b2, the Pfizer-BioNTech SE COVID-19 vaccine.
Follow RTT