Consistent growth, margins in Q1 keep Mindtree ahead of larger peers

Analysts at the brokerage expect the company to deliver a 17 per cent dollar revenue growth annually between FY22-24

Mid-tier information technology (IT) major Mindtree’s June quarter performance was ahead of the Street expectations across all parametres with the margin show bucking the overall trend in the IT sector.

Even as its larger peers TCS and HCL Tech and L&T Infotech reported a 40-260 basis points margin fall as compared to the year ago quarter, and on a sequential basis, Mindtree’s profitability was up 20-140 basis points. The company also remains confident of maintaining its operating profit margin despite attrition and supply side pressures at around the 20 per cent mark going ahead.

Some of the pressures for