Mindtree Reports Revenue Growth of 2.5% q-o-q and 15.7% y-o-yin Dollar
BANGALORE, India -- January 16, 2014
Mindtree, a global information technology solutions company, announced its
results today for the third quarter ended December 31, 2013, as approved by
its Board of Directors.
“We are seeing good business momentum and traction with our clients. Our
strong deal pipeline, improved client metrics, proven leadership, global
right-sourcing delivery model, and ability to attract and retain talent
demonstrate our confidence for a promising future. We will continue to invest
in technology-led solutions as our clients are favourably responding to it by
making Mindtree a significant part of their strategic initiatives,” said
Krishnakumar Natarajan, CEO & Managing Director, Mindtree.
Key financial highlights:
*In USD terms:
*Revenue at $127.1 million (growth of 2.5% q-o-q / 15.7% y-o-y)
*Net profit at $14.2 million (decline of 31.5%* q-o-q / 22.7%* y-o-y)
*In Rupee terms:
*Revenue at ` 7,906 million (growth of 2.7% q-o-q / 34% y-o-y)
*Net profit at ` 885 million (decline of 31.2%* q-o-q / 10.4%* y-o-y)
* Due to forex loss in Q3 of FY14 as against forex gain in Q2 of FY14 and Q3
*208 active clients as of December 31, 2013
*$5 million clients grow to 22; $10 million clients grow to 13; $20 million
clients grow to 6
*12,992 employees as of December 31, 2013
*Added 397 employees during the quarter on a gross basis
*Trailing 12 months attrition has declined to 11.6% as compared to 15.1% a
*Multi-year and multi-million wins with leading global clients:
*One of the top 3 global airlines. Mindtree will provide development and
support services for its next generation cargo management system
*World’s leading manufacturer of luxury lifestyle home entertainment
products. Mindtree has been chosen as the sole softwaredevelopment
partner in the area of video technologies for the next generation Digital
TV platform and future video products
*Leading global provider of electronic payments solutions to financial
institutions. Mindtree has been chosen to provide engineering solutions,
platform enhancements, testing and test automation services
*Leading provider of global information & telecommunication solutions for
the air transport industry. Mindtree will provide Oracle application
support for their business critical strategic finance systems, for this
*Mindtree received the ‘Most Promising Company of the Year’ award from CNBC
*Mindtree won Gainesville Chamber of Commerce’s Business of the Year award
for its innovative practices
*Mindtree’s mobility solutions for the retail and logistics industries won
SAP® 2013 Industry MobileApp Challengesat SAP’s TechEd event
*Krishnakumar Natarajan, CEO & MD, Mindtree voted as one of India's Top 100
CEOs by Business Today – PricewaterhouseCoopers, 2014.
*Mindtree adds Apurva Purohit, CEO, Music Broadcast Pvt Ltd, (one of
India’s largest media businesses) to its Board of Directors, effective
January 1, 2014. The Board also elected Parthasarathy N S as an Executive
Director, in addition to his role as President, Enterprise Service Lines.
*As announced earlier, our goal is to gradually increase the payout and
move to a quarterly dividend payment mode. In line with this, the Board of
Directors, at its meeting held on January 16, 2014, recommended an interim
dividend of 50% (` 5 per equity share of par value `10 each) for the
quarter ended December 31, 2013.
Mindtree is a global information technology solutions company with revenues of
over USD 435 million. Our experts are driven to engineer meaningful technology
solutions to help businesses and societies flourish.
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 clients
to 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.
© Mindtree Limited 2014
Sweta Mohanty, +91 98865 20141
Siddhartha Tanti, +91 99863 62435
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