Net profit rises 49% YoY to Rs 473.1 Crore, beats estimates

Larsen & Toubro Group’s IT company Mindtree on Monday reported a 49% year-on-year (YoY) increase in net profit to Rs 473.1 crore for the fourth quarter ended March 31, 2022.

In the corresponding quarter of last year, the company recorded a net profit of Rs Rs 317 crore. CNBC-TV18 Polls had predicted a profit of Rs 437 crore for the quarter under review.

The Board of Directors has recommended a final dividend of 270% (Rs 27 per share of nominal value of Rs 10 each) for the year ended March 31, 2022, which is subject to shareholder approval at the meeting. annual general.

“Our industry-leading growth during a year of rapid business and technology change demonstrates the relevance of our value proposition in reinventing businesses and driving digital transformation at scale,” said Debashis Chatterjee, CEO and Managing Director of Mindtree.

The results fell after the close of market hours. Mindtree shares closed at Rs 3,956.15, up Rs 141.00, or 3.44% on BSE.

(This is a developing story. Check back for more details)

(Edited by : Jomy Jos Pullokaran)


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