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Mindtree bonus offer

Calcutta, April 16: Mindtree has recommended a 1:1 bonus issue, or one additional equity share for every existing share, to mark its fifteenth year of business, subject to shareholder approval.

The infotech firm today posted a 24.46 per cent jump in consolidated net profit for the quarter ended March 31 at Rs 98.2 crore against Rs 78.9 crore in the same quarter a year ago. Revenues rose 34.5 per cent to Rs 823.7 crore from Rs 612.4 crore in the year-ago period.

In dollar terms, net profit was up 8.9 per cent at $15.9 million, while revenues rose 17.4 per cent to $132.8 million.

The Mindtree board has also recommended an interim dividend of 50 per cent, or Rs 5 per equity share of Rs 10 each, for the March quarter.

A final dividend of 50 per cent (Rs 5 per equity share of par value Rs 10 each) for the year ended March 31 and a special dividend of 50 per cent, or Rs 5 per equity share, was recommended to celebrate 15 years.

If the proposed 1:1 bonus share issue is approved by shareholders prior to the date of its annual general meeting, the final and special dividend amounts will be accordingly reduced to 25 per cent, or Rs 2.5 per equity share of Rs 10 each.

“Fiscal 2014 has been a momentous year for Mindtree. We crossed half a billion dollars in revenues, $100 million in operating profits and Rs 100 of earnings per share,” Krishnakumar Natarajan, CEO & and managing director of Mindtree, said.

 
 
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