CORRECTION - Milestone Quarter for Mindtree - Revenue Crosses $150 Million, Recommends Interim Dividend

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Jul 17, 2015, 01:24 ET

Mindtree, a global technology services company, announced its consolidated results today for the first quarter ended June 30, 2015, as approved by its Board of Directors.

(Logo: http://photos.prnewswire.com/prnh/20140416/681203)

"We have a great start to the year, driven by multi-year, multi-million dollar deals and strong contract closures. Our Digital story has taken off. We see tremendous opportunities to partner with our clients for their digital transformation initiatives. We have also crossed $150M in revenues this quarter," said Krishnakumar Natarajan, CEO & Managing Director, Mindtree.

Mindtree Logo (PRNewsFoto/Mindtree)

Key financial highlights:

In USD terms:
- Revenue at $154.9 million (growth of 4.8% q-o-q / 9.7% y-o-y). Constant currency revenue growth of 5.2% q-o-q and 13.3% y-o-y
- Net profit at $21.8 million (growth of 5.5% q-o-q / 0.6% y-o-y)
In Rupee terms:
- Revenue at ₹ 9,816 million (growth of 6.9% q-o-q / 16.4% y-o-y)
- Net profit at ₹ 1,382 million (growth of 7.4% q-o-q / 6.8% y-o-y)

Other highlights:

Clients:
- 218 active clients as of June 30, 2015
- $50 million clients grow to 2
Employees:
- 14,427 employees as of June 30, 2015
- Added 900 employees during the quarter on a gross basis
- Trailing 12 months attrition is at 18.4%

Multi-year and multi-million dollar wins with leading global clients:
A leading personal digital media company. Mindtree will provide Application and Infrastructure Management Services

World leader in computer software and technology. For this existing client, Mindtree will provide end-to-end services and support for its cloud offering
Leading global insurance company. For this existing client, Mindtree will provide maintenance and support services for its reinsurance applications

Awards and recognition:
Declared the Gold category award winner of the LearningElite awards 2015 by the Chief Learning Officer Magazine, for its innovative learning and development practices.
Earned a special recognition in the Sustained Excellence Category of BML Munjal Awards -2015, organized by the Hero Group for demonstrating business excellence through its learning and development initiatives
Awarded the Firm of the year in the Information Technology Sector at the CNBC-TV18 India Risk Management Awards

Dividend announcement:
- The Board of Directors, at its meeting held on July 16, 2015 recommended an interim dividend of 30% (₹ 3 per equity share of par value ₹ 10 each) for the quarter ended June 30, 2015.

About Mindtree

Mindtree [NSE: MINDTREE] delivers digital transformation and technology services from ideation to execution enabling Global 2000 clients to outperform competitors. Mindtree was 'Born Digital' and continues to bring extraordinary depth across the entire digital value-chain. With a strong blend of expertise and execution, Mindtree delivers remarkable customer experiences while driving greater efficiency and modernizing business operations. Mindtree's expertise in infrastructure and applications management, combined with the unique Agile Center-of-Excellence, ensures that our clients release products and services to market faster and more cost-efficiently.

Visit us at http://www.mindtree.com

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 www.mindtree.com .

For more information, contact:

Priyanka Waghre

Mindtree

+91 98867 29295

[email protected]

Kiran Farooque

PPR Worldwide

+44 0 207 300 6181
[email protected]

Sarah Elder

Max Borges Agency

+1 415.548.6850