Mindtree is facing a hostile takeover bid by L&T
Mindtree is facing a hostile takeover bid by L&T

Mindtree Q4 net up 8.9 pc at Rs 198 crore, FY 19 revenue crosses $1 billion

ANI | Updated: Apr 17, 2019 16:21 IST

Bengaluru (Karnataka) [India], Apr 17 (ANI): IT services major Mindtree reported on Wednesday that its net profit totalled Rs 198.4 crore during January to March quarter of 2019, up 8.9 per cent from Rs 182.2 crore in the year-ago period.
The company's revenue also increased by 25.6 per cent to Rs 1,839.4 crore as compared to Rs 1,464 crore in the same period.
Mindtree, which is facing a hostile takeover bid by infrastructure giant Larsen & Toubro, said its board has also declared an interim dividend of 30 per cent (Rs 3 per equity share of par value Rs 10 each).
"The Board of Directors has also recommended a final dividend of 40 per cent (Rs 4 per equity share of face value of Rs 10 each) for the financial year ended March 31, 2019 and a special dividend of 200 per cent (Rs 20 per equity share of face value of Rs 10 each) to celebrate the twin achievements of exceeding one billion dollars annual revenue milestone and 20th anniversary of the company which are subject to the approval of shareholders," it said.
Mindtree's net profit for fiscal 2018-19 grew 32.2 per cent to Rs 754.1 crore while the revenue was up 28.5 per cent to Rs 7,021.5 crore from the previous fiscal.
Managing Director and CEO Rostow Ravanan said: "The company is well-poised to continue delivering industry leading returns for all our stakeholders. The best is yet to come."
(ANI)

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