Mid-sized IT firm Mindtree on April 18 said its consolidated net profit grew 8.9 percent to Rs 198.4 crore for the March 2019 quarter, from Rs 182.2 crore in the year-ago period. Rostow Ravanan, Managing Director and CEO of Mindtree spoke to CNBC-TV18 about the company’s performance.
“We are proud of our achievements in this quarter, from revenue perspective it is one of the best quarters we have had, broad-based growth and all four verticals grew well,” Ravanan said.
“Our hi-tech vertical led the growth in this quarter with 6.5 percent. Our banks, financial services and insurance (BFSI) and retail vertical grow approximately 5 percent and our travel vertical rounded off with about 2.5 percent growth,” he added.
Talking about the company’s growth, Ravanan said: “Specific to our business, we are extremely confident of our growth. In the last five years, we have continuously grown faster than the industry and for the coming year our projection is that we will grow in low teens in dollar terms, reported currency terms.”
On the special dividend front, he said, “It is a milestone that we are extremely proud of like I shared. We want to share it with all our stakeholders. Even in the past when we had important milestones for Mindtree, 10th year of the listing, 15th year of our life, $100 million quarter, on many occasions we always wanted to share our achievements with our shareholders. In this case, also we want to do something like that and this approval is subject to shareholders at the forthcoming AGM.”