- Published on July 18, 2022
- In IT Services
Mindtree FY-23 Q1 results – record highest-ever order book, net profit declines, attrition and more
In FY-23 Q1, the company onboarded 4,700 employees leading its total headcount to 37,455 professionals.
- By Amit Naik
On July 13, Mindtree announced its consolidated financial results for FY-23 Q1.
The company reported its highest-ever order book at $570 million, growing by 13.1 per cent YoY. Additionally, it achieved an all-time high cash and investment balance of $500 million.
Mindtree recorded a 5 per cent growth in constant currency for the sixth consecutive quarter, with current quarter revenue touching $399.3 million. In US terms, it has recorded 4 per cent growth. EBITDA for the current quarter displayed a healthy statistic of 21.1 per cent. However, its net profit observed a decline of 3.8 per cent QoQ ($60.3 million)—a growth of 29.7 per cent YoY.
In FY-23 Q1, the company onboarded 4,700 employees leading its total headcount to 37,455 professionals.
At the earnings call, Mindtree’s Chief Executive Debashis Chatterjee revealed that the pandemic and its aftermath reinforced the long-term potential of digital transformation. Organisations across sector
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Amit Naik
Amit Raja Naik is Senior Editorial Producer – Live Shows at AIM Network, driving India’s most influential AI and technology conversations. He leads content, narrative design, and visual storytelling, engaging with leaders, innovators, and policymakers to advance how technology impacts businesses, governance, and society.
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