Mindtree Reports Strong Revenue Growth of 4.1% q-o-q, in Dollar Terms; Declares Interim Dividend

BANGALORE, India and WARREN, N.J., Oct. 16, 2014 /PRNewswire/ — Mindtree, a global technology services company, announced its results today for the second quarter ended September 30, 2014, as approved by its Board of Directors.

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"Our deep expertise in Digital and Infrastructure services has led to continued opportunities to help our clients differentiate their business. Our strategy of becoming a leader in digital solutions is continuing to bear fruit and has contributed to another strong growth quarter for Mindtree" said Krishnakumar Natarajan, CEO & Managing Director, Mindtree .

Key financial highlights: 

  • In USD terms:
    • Revenue at $147.05 million (growth of 4.1% q-o-q / 18.6% y-o-y)
    • Net profit at $22.74 million (growth of 4.9% q-o-q / 9.7% y-o-y)
  • In Rupee terms:
    • Revenue at ` 8,886 million (growth of 5.3% q-o-q / 15.5% y-o-y)
    • Net profit at ` 1,374 million (growth of 6.2% q-o-q / 6.8% y-o-y)

Other highlights:  

  • Clients:
    • 200 active clients as of September 30, 2014    
    • $30 million clients grow to 4; $20 million clients grow to 7; $5 million clients grow to 27
  • Employees:
    • 13,018 employees as of September 30, 2014
    • Added 810 employees during the quarter on a gross basis
    • Trailing 12 months attrition is at 15.7%
  • Multi-year and multi-million dollar wins with leading global clients:
    • World leader in computer software and technology. Mindtree will provide data analytics services for this existing client 
    • Leading global insurance company. Mindtree will provide managed services to support underwriting applications for this existing client
    • Leading global automobile company. Mindtree will provide digital support services for this existing client
  • Awards and recognition:
    • Mindtree was named in the overall leader zone by Zinnov, a leading globalization and market expansion advisory firm, in its global R&D service provider ratings 2014
  • Dividend announcement:
    • The Board of Directors, at its meeting held on October 15, 2014 recommended an interim dividend of 30% (` 3 per equity share of par value ` 10 each) for the quarter ended September 30, 2014.

About Mindtree 

Mindtree [NSE: MINDTREE; CIN: L72200KA1999PLC025564] delivers technology services and accelerates growth for Global 1000 companies by solving complex business challenges with breakthrough technical innovations. Mindtree specializes in e-commerce, mobility, cloud enablement, digital transformation, business intelligence, data analytics, testing, infrastructure, EAI and ERP solutions. We are among the fastest growing technology firms globally with more than 200 clients and offices in 14 countries.

Safe harbour 

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 http://www.mindtree.com .

For more information, contact:

Ranjani Priya H

Siddhartha Tanti
Genesis Burson-Marsteller

Kiran Farooque
PPR Worldwide

David Barkoe
Max Borges Agency
+1-305-374-4404 x167

Mindtree Limited, Global Village, RVCE Post, Mysore Road, Bangalore-560059; CIN: L72200KA1999PLC025564; Phone: +91-80-6706-4000; Fax: +91-80-6706-4100; E-mail: info@mindtree.com / investors@mindtree.com; Website: http://www.mindtree.com