Mid-sized IT firm MindTree has posted an over two-fold increase in net profit at Rs 68.9 crore for the quarter ended March 31, 2012, driven by strong growth in software services. The company had posted a net profit of Rs 32 crore in the year-ago period.
The income from software services increased over 34% to Rs 525.7 crore in the reported quarter from Rs 391.2 crore in Q4 FY11.
On a full-year basis, the company's net profit stood at Rs 218.5 crore as against Rs 101.6 crore in 2010-11. Income from software services grew over 26.92% to Rs 1,915.2 crore in 2011-12 from Rs 1,509 crore in 2010-11.
MindTree offers IT services across the consumer goods value chain, spanning product development and manufacturing intelligence systems, supply chain execution and optimization solutions and customer and consumer management solutions.
