LTOUF - Larsen & Toubro's Mindtree reports 28.6% Y/Y growth in first quarter's revenue profit jumps 30%

• Larsen & Toubro's ( OTC:LTOUF ) Mindtree reported 5.5% growth in first quarter's revenue sequentially on Wednesday.
• The technology services and digital transformation company, based in Bengaluru (India), has reported $399.3M in Q1 2022 revenue, up 5.5% sequentially on constant currency basis and up 28.6% year-over-year.
• "We are excited to report a strong start to FY23 with robust revenue growth, solid margin, and a record order book, demonstrating our continued industry-leading growth momentum," stated Mindtree CEO and MD Debashis Chatterjee.
• EBITDA was 21.1% during the quarter.
• The company's highest-ever order book of $570 million reflects the relevance of our value proposition in delivering business-critical transformation at scale, Chatterjee said.
• Net profit increased 29.7% Y/Y to $60.3M; however, translating a sequential dip of 3.8%.

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