Bangalore (India) and Warren (NJ), October 15, 2014:
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.
“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)
- 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
- 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.
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.