Mindtree Reports Third Quarter 2017-18 Results

• In USD terms, Net Profit rises 13.8% q-o-q / 44.1% y-o-y;
• Revenue grows 3.9% q-o-q / 11.5% y-o-y

BANGALORE, India and WARREN, NJ, Jan. 17, 2018 /CNW/ - Mindtree, a global digital transformation and technology services company, announced its consolidated results today for the third quarter ended December 31, 2017 as approved by its board of directors.

(Logo: http://photos.prnewswire.com/prnh/20140416/681203 )

"Our 'Execute Smart' approach to delivery continues to bear fruit and contributed to a robust quarter on all fronts. By delivering fast time-to-market for our solutions, we have created even further competitive advantage for our clients," said Rostow Ravanan, CEO & Managing Director, Mindtree. "These strong results also reflect our ongoing leadership in Digital, and our unique ability to be the core Digital anchor-partner for next-generation Digital transformations."  

Key financial highlights: 

Quarter ended December 31, 2017 

• In USD:
• Revenue at $214.3 million (growth of 3.9% q-o-q / 11.5% y-o-y)
• Net profit at $22 million (growth of 13.8% q-o-q / 44.1% y-o-y)
• In INR:
• Revenue at INR 13,777 million (growth of 3.5% q-o-q / 6.4% y-o-y)
• Net profit at INR 1,415 million (growth of 13.4% q-o-q / 37.2% y-o-y)

Other highlights:  

• Clients:
• 344 active clients as of December 31, 2017
• People:
• 17,200 Mindtree Minds as of December 31, 2017    
• Trailing 12 months attrition is 12.6%

• Multi-year and multi-million dollar wins with leading global clients:

• Providing digital transformation, quality assurance and technology operations services for a leading Industry association in the education sector
• Providing managed services for a leading technology company
• Anchor Digital partner for an enterprise-wide transformation initiative for a large beauty care company
• Implementing ShotClasses, Mindtree's employee-training and micro-learning platform, for a leading consumer goods company
• Migrating SAP ERP and BI solutions to SAP HANA for a large commercial vehicle retailer in the US

•   Awards and Recognition:

• Mindtree named a 'Rising Star' in Public Cloud Infrastructure Consulting and Implementation Services, Public Cloud Infrastructure Managed Services and Public Cloud SAP Services by Information Services Group (ISG)
• Mindtree's SAP Practice wins the SAP Gold Quality Award in United Kingdom for workforce planning using SAP Business Planning & Consolidation suite
• Mindtree positioned as a leader in the Zinnov Zones for Product Engineering Services 2017
• Mindtree named among the Large System Integrators for Agile and DevOps services by Gartner

• Announcements

• The board of directors at its meeting held on January 17, 2018 have recommended an interim dividend of 20% (INR 2 per equity share of par value INR 10 each)

About Mindtree 

Mindtree (NSE: MINDTREE) delivers digital transformation and technology services from ideation to execution, enabling Global 2000 clients to outperform the competition. 'Born digital', Mindtree takes an agile, collaborative approach to creating customized solutions across the digital value chain. At the same time, our deep expertise in infrastructure and applications management helps optimize your IT into a strategic asset. Whether you need to differentiate your company, reinvent business functions or accelerate revenue growth, we can get you there. Visit http://www.mindtree.com to learn more.

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. 

Visit us at http://www.mindtree.com.

SOURCE Mindtree

INDIA: Raman Suprajarama, Mindtree, [phone], [email protected]; UNITED STATES: Andrea Dunbeck, Matter Communications, [phone], [email protected]; EUROPE: Imogen Nation, Hotwire, [phone], [email protected]