Mindtree Net soars 78%
Mumbai: Mid-sized IT firm Mindtree net profit rose by 77.8 per cent to Rs 128.7 crore for the September quarter on the back of a strong growth in manufacturing and retail vertical. Mindtree’s net profit stood at Rs 72.4 crore for the July-September 2012 quarter. Revenues for the quarter grew 29.2 per cent to Rs 769.5 crore from Rs 595.3 crore in the same period last fiscal. “This is the result of relentless execution of our new strategies and we continue to invest in expertise-led solutions and attracting top quality industry talent,” Mindtree CEO and MD Krishnakumar Natarajan said.
PepsiCo’s profit up on snacks
New York: PepsiCo has reported a higher-than-expected profit for its third quarter, as stronger sales of its Frito-Lay snacks helped offset weaker results in its North American beverage unit. The company said revenue in its Americas food division rose on a mix of price increases and stronger sales volumes. In North America, soda volume fell in the “mid-single digits.’’ But despite the decline, CEO Indra Nooyi stressed in a conference call with analysts that the broader $95 billion beverage industry remains a “pretty damn good business’’ in terms of generating cash for the company.