Mindtree posts 35% YoY fall in Q2 profit at Rs 135 crore

Mid-sized IT firm MindtreeNSE -2.35 % posted a profit of Rs 135 crore for the quarter ended September, down 35% from Rs 206.3 crore in the year-ago quarter, hurt by higher expenses on account of salary increases and headcount.

Revenue grew 9 % during the same period to Rs 1914 crore. On dollar basis, profit stood at $19.2 million on a revenue of $271.0 million.

Mindtree, on a press call said, it expects continued margin improvement in the second half of the financial year as the company which was recently acquired by Larsen & Toubro focuses solely on profitable growth, going forward.