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Mindtree’s net profit surges 72% q-o-q in rupee terms, strong revenue growth of 4.1% in dollar terms

Bangalore (India), July 18, 2013: Mindtree Limited, a global information technology solutions company, announced its results today for the first quarter ended June 30, 2013, as approved by its Board of Directors.

“We have delivered 15 consecutive quarters of revenue growth. This quarter’s performance continues that trend and has been encouraging both from a revenue and profitability perspective. We hope to continue this momentum. We have made some key changes to our strategy and structure to enhance our expertise led positioning and to build an agile organization. We are confident that these steps are in the right direction to achieve our aspirations to deliver industry leading growth” said Krishnakumar Natarajan, CEO & Managing Director,
Mindtree Limited.

Key financial highlights:

  • In USD terms:
    • Revenue at $117.7 million (growth of 4.1% q-o-q / 11.6% y-o-y)
    • Net profit at $24.6 million (growth of 69% q-o-q / 47.3% y-o-y)
  • In Rupee terms:
    • Revenue at ` 6,477 million (growth of 5.8% q-o-q / 15% y-o-y)
    • Net profit at ` 1,354 million (growth of 71.6% q-o-q / 51.8% y-o-y)

Other highlights:

  • Customers:
    • 222 active customers as of June 30, 2013
    • $10 million customers grow to 10
  • Employees:
    • 12,239 employees as of June 30, 2013
    • Added 1,057 employees during the quarter on a gross basis
  • Major client wins:
    • Two multi-year engagements with an existing customer who is a world leader in the computer and software technology industry. Mindtree will provide support services for their developer tools and cloud business.
    • A large multi-year engagement with an existing customer in the global financial services area. Mindtree will provide support services to their global business services and human resources technology portfolio.
    • A large human capital management software and services company based in Europe. Mindtree has been chosen as a strategic partner to provide a range of application, testing, BI and infrastructure services.
    • An existing customer who is a leading general-use vehicle rental company. Mindtree has been chosen as a system integration partner to build their next generation pan European digital platform.
  • Others:
    • Mindtree was listed in Top 100 best companies to work for in India. Mindtree ranked 40th among the 535 participating organizations, moving up 7 ranks as compared to last year. This survey was conducted by The Economic times & Great Place to Work ® Institute.

Safe harbor

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.

About Mindtree

About Mindtree

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 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 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.

Please visit us at www.mindtree.com.

Visit us at www.mindtree.com. For more information, contact:

Divya Kurup
Mindtree Limited
+91 97390 42317
Divya_Kurup@mindtree.com
Siddhartha Tanti
Genesis Burson-Marsteller
+91 99863 62435
siddhartha.tanti@bm.com