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A milestone quarter: Mindtree’s revenue crosses $200 million

Bangalore (India) and Warren (NJ), July 19, 2017: Mindtree, a global Digital transformation and technology services company, announced its consolidated results today for the first quarter ended June 30, 2017 as approved by its Board of Directors.

“We continue to maintain steady momentum with a strong pipeline and multi-year, multi-million dollar wins.” said Rostow Ravanan, CEO & Managing Director, Mindtree. “Our leadership in Digital is allowing Mindtree to compete successfully in large opportunities that are at the core of our client’s efforts to grow their businesses. Recognitions by leading industry analysts and deal wins validate our strong positioning for helping our clients with their run-the-business transformations as well.”

Key financial highlights:

Quarter ended June 30, 2017

  • In USD:
    • Revenue at $200.1 million (growth of 2.3% q-o-q / 0.6% y-o-y, constant currency growth of 1.2% q-o-q).
    • Net profit at $18.9 million (growth of 30.8% q-o-q / 2% y-o-y)
  • In Rupees:
    • Revenue at ₹ 12,895 million (decline of 2.2% q-o-q / 2.9% y-o-y)
    • Net profit at ₹ 1,217 million (growth of 25.2% q-o-q / decline of 1.5% y-o-y)

Other highlights:

  • Clients:
    • 336 active clients as of June 30, 2017
    • $5 million clients grow by 3 for a total of 33
    • $1 million clients grow by 2 for a total of 113
  • People:
    • 16,561 Mindtree Minds as of June 30, 2017
    • Trailing 12 months attrition is 14%
  • Multi-year and multi-million dollar wins with leading global clients:
    • Building end-to-end digital transformational capability for a leading outsourcing and technology services provider in the travel industry
    • Providing managed services across multiple platforms for a leading semiconductor company
    • Implementing Duck Creek products for policy, billing and claims systems for a large property and casualty insurance company

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.

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 www.mindtree.com to learn more.

For more information, contact:

INDIA
Ankita Dubey
Mindtree
+91 78991 69001
Ankita.dubey@mindtree.com
UNITED STATES
Andrea Dunbeck
Matter Communications
978-518-4555
adunbeck@matternow.com
EUROPE
Imogen Nation
Hotwire
004420 7608 4675
imogen.nation@hotwirepr.com