Mindtree on Friday said its consolidated net profit rose by 53.9 percent to Rs 317.3 crore in the March quarter on the back of strong operational efficiency and expressed confidence in logging double-digit growth in FY22.

“Two successive quarters of 5 percent plus growth gives us a lot of confidence in terms of the momentum that we have generated in the last two quarters,” said Debashis Chatterjee, MD & CEO of Mindtree in an interview to CNBC-TV18.

The Bengaluru-based company's net profit was at Rs 206.2 crore in the January-March 2020 quarter. Its revenue grew 2.9 percent to Rs 2,109.3 crore in the said quarter from Rs 2,050.5 crore in the year-ago period.

“Order book has been very strong; we have closed the year with USD 1.4 billion of order book which is more than 12 percent compared to the last year. The pipeline has never been stronger and the changes that we have done in terms of our 4x4x4 strategy – that execution is going well. As a part of our strategy, we have been focused in terms of some of the strategic accounts and focusing on cross-selling and up-selling. That also is working out very well. So considering all these factors, we are very confident that FY22 we should be able to deliver a double-digit growth keeping our margin 20 percent plus,” he explained.

He also said that the company added 1,600 employees in Q4 and expects hiring to increase further in Q1 owing to high demand and strong pipeline. The company has also been able to contain attrition, he added.

“War for talent has always been there and it has just aggravated in the last couple of quarters. We have been doing a lot of initiatives within the organization which are all employee engagements, we have been very focused in terms of cross-skilling our employees and that is something which has helped. So, our view is that we have been able to contain the attrition over the last 4-5 quarters step-by-step and many of the initiatives that we have put in place will also hold good. We have done promotions last year, we have done wage hikes as of January 1. So, whatever you see right now, all these factors are already baked in,” he said.

Chatterjee said that there has been a delay in closures in BFSI and expects it to happen in Q1. Revenue from travel clients came down during the pandemic, but the company has not lost clients, he added.

(Edited by : Abhishek Jha)