MindTree, IT solutions and product engineering services company, has earned profit of Rs 982 million, representing a rise 24.5% while revenues went up 34.5% to Rs 8,237 million for the fourth quarter.

On quarter on quarter basis, it posted a rise of 11% in the net profit and 4.2% rise in the revenues.

It has 12,926 employees as of Mar. 31, 2014 with addition of 397 employees during the quarter on a gross basis.

''FY14 has been a momentous year for Mindtree. We crossed half a billion dollars in revenues, USD 100 million in operating profits and Rs 100 of EPS. As we celebrate this success, I would like to thank all our clients, partners, investors and Mindtree Minda for their immense faith and contribution. We have progressed well in our journey to increase our strategic relevance to our clients. We will continue to aspire to deliver superior financial performance, innovation, industry leadership in our chosen verticals, social responsibility and corporate governance,'' said Krishnakumar Natarajan, CEO and MD, Mindtree.

Shares of the company declined Rs 19.3, or 1.38%, to settle at Rs 1,380.65. The total volume of shares traded was 42,960 at the BSE (Wednesday).