Stellar Quarter for Mindtree: Strong Revenue Growth of 16.4% Q-o-Q in Dollar Terms; Recommends Interim Dividend

BANGALORE and WARREN, New Jersey, Oct. 15, 2015 /PRNewswire/ -- Mindtree, a global technology services company, announced its consolidated results today for the second quarter ended September 30, 2015, as approved by its Board of Directors.

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"A stellar quarter on all fronts. Our recent strong deal wins and strategic acquisitions will fuel growth and enhance our leadership in the digital space. We are also excited about our new state-of-the-art global learning center at Bhubaneswar, focused on building the digital workforce of tomorrow. These are great strides that will continue to yield impressive results for our clients in a rapidly changing business environment," said Krishnakumar Natarajan, CEO & Managing Director, Mindtree.

Key financial highlights: 

• In USD terms:
  • Revenue at $180.3 million (growth of 16.4% q-o-q / 22.6% y-o-y). Organic revenue (without acquisitions of last quarter) growth of 8.1% q-o-q and 13.9% y-o-y
  • Net profit at $24.3 million (growth of 11.2% q-o-q / 6.8% y-o-y)
• In Rupee terms:
  • Revenue at INR 11,693 million (growth of 19.1% q-o-q / 31.6% y-o-y)
  • Net profit at INR 1,582 million (growth of 14.5% q-o-q / 15.1% y-o-y)

Other highlights:  

• Clients:
  • 296 active clients as of September 30, 2015
• Employees:
  • 15,582 employees as of September 30, 2015
  • Added 1,801 employees during the quarter on a gross basis
  • Trailing 12 months attrition is at 17.1%.

• Multi-year and multi-million dollar wins with leading global clients (In addition to the two wins already announced during the quarter):

     - World leader in computer software and technology. For this existing client, Mindtree will provide operational and analytical services for their cloud platform

     - Global interactive entertainment software Company. For this existing client, Mindtree will provide sales analytics solutions

     - Global Communications Company. For this existing client, Mindtree is selected as the preferred partner for providing development, analytics and testing services for its customer experience management product

• Awards and recognition:

     - Mindtree was awarded the Digital transformation Czar award under the Digital Transformation category at the CIO 100 awards organized by the IDG group.

     - Mindtree won the NCPEDP-Mphasis Universal Design Award for 2015 under Category C for companies or organizations that have taken up the cause of Accessibility and Universal Design.

     - Mindtree was recognized as the EPG Emerging Azure partner of the Year in FY15 by Microsoft.

     - Mindtree named in Forbes India's first-ever Super 50 list based on consistent shareholder returns, sales growth and return of equity.

• Dividend announcement:

     - The Board of Directors, at its meeting held on October 15, 2015 recommended an interim dividend of 40% (INR 4 per equity share of par value INR 10 each) for the quarter ended September 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 http://www.mindtree.com.

For more information, contact:

Priyanka Waghre
Mindtree
+91 98867 29295
Priyanka.Waghre@mindtree.com  

Siddhartha Tanti
Genesis Burson-Marsteller
+91 99863 62435
Siddhartha.Tanti@bm.com  

Kiran Farooque                        
PPR Worldwide                    
+44 0 207 300 6181                    
Kiran.Farooque@pprww.com