MindTree’s consolidated net slumps 34% in Q2FY17

MindTree has reported results for second quarter ended September 30, 2016.  

The company has reported 22.17% fall in its net profit at Rs 114.10 crore for the quarter under review as compared to Rs 146.60 crore for the same quarter in the previous year. However, total income of the company increased by 10.70% at Rs 1197.10 crore for the quarter under review as compared Rs 1081.40 crore for the corresponding quarter previous year.  

On the consolidated basis, the company has reported 37.14% fall in its net profit at Rs 94.80 crore for the quarter ended September 30, 2016 as compared to Rs 150.80 crore for the same quarter in the previous year, hurt by slower ramp-ups and cautious spending by some large clients across verticals. However, total income of the company has increased by 11.25% to Rs 1315.20 crore for quarter under review from Rs 1182.25 crore for the quarter ended September 30, 2015.