Mindtree's Net Profit Surges 63% y-o-y in Rupee Terms; Better Client
Mining Leads to More $5M and $10M Customers
WARREN, NJ and BANGALORE, INDIA -- (Marketwire) -- 01/18/13 --
Mindtree Limited (NSE: MINDTREE), a global information technology
solutions company, announced its results today for the third quarter
ended December 31, 2012, as approved by its Board of Directors.
"Our revenue growth has been satisfactory despite a seasonally weak
quarter. We are very pleased that our efforts to reposition and
strengthen our business continue to yield good results, as can be
seen in our strong profitability improvements. Our expertise led
positioning is helping us develop deeper customer relationships and
deliver transformative changes for existing and new customers," said
Krishnakumar Natarajan, CEO & Managing Director, Mindtree Limited.
Key financial highlights:
-- In USD terms:
-- Revenue at $109.9 million (growth of 2.5% q-o-q / 6.0% y-o-y)
-- Net profit at $18.4 million (growth of 42.8% q-o-q / 51.9% y-o-y)
-- In Rupee terms:
-- Revenue at ' 5,901 million (decline of 1.0% q-o-q / growth of
-- Net profit at ' 988 million (growth of 36.8% q-o-q / 63.0% y-o-y)
-- 245 active customers as of December 31, 2012
-- $5 million customers increased by 4 to 21; $10 million customers
increased by 1 to 9
-- 10,952 employees as of December 31, 2012
-- Added 443 employees during the quarter on a gross basis
-- Major client wins:
-- An existing customer who is a leading superannuation and pension
administration specialist based in APAC. Mindtree will provide
development and testing services for its core applications.
-- An existing product engineering services company that provides a
cloud platform for collaboration and document sharing. Mindtree
will provide product development and test automation services for
-- A hi-tech company in the area of designing Integrated Circuits
based in APAC. Mindtree will license its Bluetooth Low Energy
-- Selected by Forbes Asia as one of the '200 Best under a Billion
-- Improved overall Fortune India 500 ranking to 424 from 445 last
Mindtree is a global information technology solutions
company with revenues of over USD 400 million. Our experts are driven
to engineer meaningful technology solutions to help businesses and
Mindtree's consulting-driven approach makes us a strategic partner to
many Fortune 500 enterprises. Our domain expertise, unique culture
and technical excellence help businesses thrive and be future-ready.
We enable our customers achieve competitive advantage through
flexible and next generation global delivery models, agile
methodologies and expert frameworks.
Mindtree's ability to devise solutions is equally matched by our
ability to execute them. Our differentiation stems from a unique
balance of human perspective with deep strategic thinking.
Our values -- collaborative spirit, unrelenting dedication and expert
thinking help us see possibilities where others see a full stop.
Welcome to possible.
Certain statements in this release concerning our future
growth prospects are forward-looking statements, which involve a
number of risks, and uncertainties that could cause our actual
results to differ materially from those in such forward-looking
statements. We do not undertake to update any forward-looking
statement that may be made from time to time by us or on our behalf.
Please visit us at www.mindtree.com.
For more information, contact:
+91 97390 42317
Smart Connections PR
410 658 8246
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