Mindtree Reports Second Quarter 2018-19 Results

WARREN, N.J. and BANGALORE, India, Oct. 17, 2018/PRNewswire/ --

In USD terms, Net Profit rises 24.9% q-o-q / 50.4% y-o-y;

Revenue grows 2.0% q-o-q / 19.5% y-o-y

Mindtree, a global technology services and Digital transformation company, announced its consolidated results today for the second quarter ended September 30, 2018 as approved by its board of directors.

"Our deep expertise across both Digital and Run landscapes are delivering competitive advantage for our clients, while fueling Mindtree's continued growth," said Rostow Ravanan, CEO & Managing Director, Mindtree. "By investing in an 'automate-everything' platform-based approach, we are consistently driving larger deals and industry recognition. During this quarter, we also further advanced the innovation in our reskilling efforts, helping our people to succeed in the modern information economy."

Key financial highlights:  

Quarter ended September 30, 2018 

• In USD:
• Revenue at $246.4 million (growth of 2.0% q-o-q / 19.5% y-o-y)
  Constant Currency growth of 2.4% q-o-q
• Net profit at $29.1 million (growth of 24.9% q-o-q / 50.4% y-o-y)
• In INR:
     o Revenue at INR 17,554 million (growth of 7.1% q-o-q / 31.8% y-o-y)
     o Net profit at INR 2,063 million (growth of 30.4% q-o-q / 65.4% y-o-y)

Other highlights:  

• Clients:
• 341 active clients as of September 30, 2018
• $10 million clients grow by 2, total of 21
• $5 million clients grow by 5, total of 44
• People:
• 19,402 Mindtree Minds as of September 30, 2018    
• Trailing 12 months attrition is 13.0%
  
• 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 484 BOTs employed as of September 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:
• Expanding footprint within an existing customer, Mindtree is now a Digital transformation partner for a large multi-national company in the CPG industry across their marketing channels
• Providing cloud operations under managed services model for a world leader in enterprise cloud data management
• Transforming the core to derive rich customer insights and migrate to a cloud infrastructure leveraging Mindtree's consulting first approach for a reputed company in the hospitality industry
• Establishing a data lake and setting up an analytics platform for one of the world's largest investment firms
• Recognition:
• Recognized as a Leader in 2018 ISG Provider Lens™ SAP Cloud Platform services quadrant and a Rising Star in 2018 ISG Provider Lens™ SAP S/4HANA and SAP BW/4HANA quadrant
• Recognized as an Innovator in Avasant's Intelligent Automation RadarView™ 2018 report
• Recognized in The 2019 ISG Provider Lens™ Next-Gen Application Development & Maintenance (ADM) Services Quadrant Report as a Global Leader in Next-Gen ADM, Continuous Testing, and Agile Development
• Announcements
• The board of directors at its meeting held on October 17, 2018 have recommended an interim dividend of 30% ( INR 3 per equity share of par value  INR 10 each)

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 19,000 entrepreneurial, collaborative and dedicated "Mindtree Minds". To learn more, visit http://www.mindtree.com or follow us @Mindtree_Ltd.

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
+1-978-518-4542
earvidson@matternow.com  

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

Mindtree Limited, Global Village, RVCE Post, Mysore Road, Bangalore-560059;

CIN: L72200KA1999PLC025564; Phone: +91-80-6706-4000; Fax: +91-80-6706-4100;

E-mail: info@mindtree.com / investors@mindtree.com ; Website: http://www.mindtree.com