Mindtree Q1 net profit increases 37% at Rs 472 cr; revenue rises 36%

On Mindtree-L&T Infotech merger, the management said that the merger is on track

Mid-cap IT services firm Mindtree on Wednesday reported net profit of Rs 472 crore, up 37 per cent year-on-year, in the June quarter. But the company's PAT was down 0.3 per cent sequentially.

Revenue for the quarter grew 36.2 per cent y-o-y at Rs 3,121 crore for the first quarter of FY23. Revenue was up 7.7 per cent on a quarter-on-quarter basis. The company signed a total contract value of $570 million during the quarter, the highest ever for the company.

The company said that this was the sixth consecutive quarter of more than 5 per cent revenue growth in