Software services exporter Mind Tree 's net profit went down by 18.9% to Rs 72.2
crore in the quarter ended September 2012 from Rs 89 crore in the previous
quarter. Analysts on an average had expected it at Rs 66 crore.
The profit after tax was down due to foreign exchange loss
of Rs 41.5 crore in the quarter as against gain of Rs 8.1 crore in previous
quarter.
Revenues (in rupee terms) rose by 5.9% to Rs 596.3 crore and
dollar revenue increased 1.7% to USD 107.3 million during the same period,
which both came in in-line with expectations.
Earnings before interest, tax, depreciation and amortization
(EBITDA) increased 12.35 percent QoQ to Rs 131.9 crore, which higher than
analysts' expectations of Rs 123 crore.
EBITDA margin too improved by 125 basis points to 22.1% in
the three months ended September 2012. Analysts had forecast of 20.67%.
Mind tree has added 11 customers during the July-September
quarter of 2012.
The board of directors have recommended an interim dividend
of 30% (Rs 3 per share of par value Rs 10 each) for the six months ended
September 30, 2012.
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Among industry segments, travel & transport continued to
exhibit robust growth increasing revenue share to 42%, BFSI contributed to 33%
of revenues and manufacturing/distribution stood at 6%.
It has received fresh orders worth USD 93 million in the
quarter gone by; out of which USD 38 million order came as new orders from its
existing clients, the management says in a press conference.
NIIT Tech expects order book to reach USD 250 million over
next one year.
Three new clients were added which included one each in
Travel and Transportation, BFSI and others.
Net additions of 173 employees took place during the quarter
taking the total headcount to 7617 at the end of the period.
The company acquired the Philippines Development Center of
Sabre Holdings during the quarter.
At 14:29 hours IST, the stock rose 1.3 percent to Rs 286.50
amid large volumes.
o 12.99% versus 13.03% quarter-on-quarter.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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