Mindtree Reports Another Stellar Quarter: Strong Revenue Growth of 6.8% q-o-q and 20.7% y-o-y in USD Terms

BANGALORE, India and WARREN, New Jersey, July 18, 2018 /PRNewswire/ --

Mindtree, a global technology services and Digital transformation company, guiding it's clients to achieve faster business outcomes, announced its consolidated results today for the first quarter ended June 30, 2018 as approved by its board of directors.

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"Our sustained high revenue growth is a reflection of our clients voting with their wallets that Mindtree's unique blend of expertise and collaboration is delivering a completely different experience." Rostow Ravanan, CEO & Managing Director, Mindtree. "As we continue to showcase leadership in Digital transformation along with our frameworks for automating core run-the-business operations, our clients are trusting us with larger and more impactful projects. The long-term strategic initiatives of delivery excellence and making Mindtree a great place to work continue to be visible in our improving profitability and low-attrition rates."

Key financial highlights:  

Quarter ended June 30, 2018 

• In USD:
  • Revenue at $241.5 million (growth of 6.8% q-o-q / 20.7% y-o-y) Constant Currency growth of 8.2% q-o-q
  • Net profit at $23.3 million (decline of 17.2% q-o-q/ growth of 23.5% y-o-y)
• In INR:
  o Revenue at ₹ 16,395 million (growth of 12% q-o-q / 27.1% y-o-y)
  o Net profit at ₹ 1,582 million (decline of 13.2% q-o-q / growth of 30% y-o-y)

Other highlights:  

• Clients:
  • 339 active clients as of June 30, 2018
  • $10 million clients grow by 2, total of 19
  • $5 million clients grow by 1, total of 39
    
• People:
  • 18,990 Mindtree Minds as of June 30, 2018    
  • Trailing 12 months attrition is 12.2%
• BOTs*:
  • Automation is playing a significant role in modernizing our technology service delivery, enhancing both efficiency and speed-to-results for our clients. We are proud to report our BOTs strength that autonomously work along-side our Mindtree Minds, enabling our team to do more and accomplish larger goals.  
  • We have 406 BOTs employed as of June 30, 2018

*Software that acts autonomously, free from any interference, human or otherwise, to perform a significant task which will otherwise be performed by a human 

• Multi-year and multi-million dollar wins with leading global clients:
  • Implementing SAP's business planning and consolidation suite for the world's largest auto manufacturer
  • Implementing financial reporting solution powered by SAP HANA for a FTSE Top 20 company, this is the largest deal in Bluefin's history
  • Providing salesforce solution for a global home appliances company to streamline their sales process
  • Providing cloud migration services for a government authority in the Middle East
• Recognition:
  • Won two awards at the 2018 ISG Paragon Awards™ Americas
  • Recognized as a leader in ISG SAP HANA Services Quadrant Study
  • Named a leader in 'Zinnov Zones' in the sectors of Broadcasting, Education & Publishing
  • Recognized in the IR Magazine Awards 2018 for excellence in Investor Relations

About Mindtree 

Mindtree (NSE: MINDTREE) is a global technology consulting and services company, helping Global 2000 corporations marry scale with agility to achieve competitive advantage. "Born digital" in 1999, more than 340 enterprise clients rely on our deep domain knowledge to break down silos, make sense of digital complexity and bring new initiatives to market faster. We enable IT to move at the speed of business, leveraging emerging technologies and the efficiencies of Continuous Delivery to spur business innovation. Operating across 17 countries, we're consistently regarded as one of the best places to work, embodied every day by our winning culture made up of nearly 19,000 entrepreneurial, collaborative and dedicated "Mindtree Minds."

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 .

For more information, contact:
India
Swetha Ganesan    
Mindtree
+91-97890-61981    
Swetha.Ganesan@mindtree.com

United States
Erik Arvidson
Matter Communications
978-518-4542
earvidson@matternow.com

Europe
Susie Wyeth
Hotwire
+44(0)-207-608-4657
susie.wyeth@hotwireglobal.com

 

SOURCE Mindtree