(PTI) IT company Mindtree on Thursday reported a 27.5 per cent year-on-year rise in its consolidated net profit to ₹508.7 crore for the September quarter.
Seen sequentially, the net profit was about 8 per cent higher than June quarter.
The Q2 revenue came in at about ₹3,400.4 crore, growing 8.9 per cent over the previous sequential quarter and 31.5 per cent on year.
Debashis Chatterjee, Chief Executive Officer and Managing Director of Mindtree said that the robust performance in the second quarter of FY23 marked a solid first half of the year, for the company.
"We not only delivered strong revenues of USD 422.1 million, up 7.2 per cent sequentially in constant currency, but also maintained our EBITDA margin at a healthy 21 per cent despite wage hikes across the board, making it our seventh consecutive quarter of more than 5 per cent revenue growth in constant currency, and eighth consecutive quarter of more than 20 per cent EBITDA margin," Chatterjee said. EBITDA refers to earnings before interest, taxes, depreciation and amortisation.
The total contract value or TCV in the fiscal's first half crossed USD 1 billion for the first time.
"Notably, with an order book of USD 518 million, our H1 signings crossed USD 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 optimisation," Chatterjee added.