Mindtree Reports Revenue Growth of 5.4% q-o-q and 15.6% y-o-y in Dollar Terms

Mindtree Reports Revenue Growth of 5.4% q-o-q and 15.6% y-o-y in Dollar Terms

BANGALORE, India--(BUSINESS WIRE)-- Mindtree Limited, a global information technology solutions company, announced its results today for the second quarter ended September 30, 2013, as approved by its Board of Directors.

"The relentless execution of our new strategies has delivered two consecutive quarters of strong revenue growth this year. We continue to invest in expertise-led solutions and attracting top quality industry talent. This drives positive business outcomes for our customers while achieving sustainable growth," said Krishnakumar Natarajan, CEO & MD, Mindtree.

Key financial highlights:

  • In USD terms:
  • Revenue at $124 million (growth of 5.4% q-o-q / 15.6% y-o-y)
  • Net profit at $20.7 million (decline of 15.7% q-o-q / increase of 61.2% y-o-y)
  • In Rupee terms:
  • Revenue at ` 7,696 million (growth of 18.8% q-o-q / 29.1% y-o-y)
  • Net profit at ` 1,287 million (decline of 4.9% q-o-q / increase of 77.8% y-o-y)

Other highlights:

  • Customers:
  • 220 active customers as of September 30, 2013
  • $5 million customers grow to 21
  • Employees:
  • 12,941 employees as of September 30, 2013
  • Added 1,122 employees during the quarter on a gross basis
  • Others:
  • Mindtree was selected by Forbes as one of the "Best Under A Billion" companies in the August issue of Forbes Asia 2013.
  • Mindtree recently won a Gold rating, the highest honor bestowed in each category of the 5th Annual Golden Bridge Awards. Mindtree was honored in the category of Company Growth of the Year.
  • Mindtree was selected by Microsoft as Windows Azure Circle partner.
  • Mindtree was ranked among the top global product engineering service providers by Zinnov research and analysis.

About Mindtree

Mindtree is a global information technology solutions company with revenues of over USD 430 million. Our team of 12,000+ experts engineer meaningful technology solutions to help businesses and societies flourish. We enable our customers to achieve competitive advantage through flexible and global delivery models, agile methodologies and expert frameworks.

Safe harbor

Certain statements in this release are forward-looking statements that are subject to economic uncertainties that could cause our actual results to differ materially. 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 www.mindtree.com.

© Mindtree Limited 2013

Mindtree Limited
Sweta Mohanty, +91 98865 20141

KEYWORDS:   Asia Pacific  Singapore  India


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