Mindtree's Net Profit Surges 60.5% y-o-y in Dollar Terms; Declares Interim Dividend

BANGALORE, India and WARREN, New Jersey, Jan. 19, 2015 /CNW/ - Mindtree, a global technology services company, announced its results today for the third quarter ended December 31, 2014, as approved by its Board of Directors.

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"Our clients continue to look at Mindtree as their partner of choice for Digital Transformation, all the way from innovation to rapid execution. Our ability to drive significant optimization in our chosen verticals, in IT and application management, remains a strong foundation for delivering sustained value to our clients. Together with digital, the Mindtree story is becoming stronger than ever before" said Krishnakumar Natarajan, CEO & Managing Director, Mindtree.

Key financial highlights: 

• In USD terms:
  • Revenue at $147.7 million (growth of 0.4% q-o-q / 16.2% y-o-y).  Constant currency revenue growth of 2% q-o-q
  • Net profit at $22.8 million (growth of 0.3% q-o-q / 60.5% y-o-y)
• In Rupee terms:
  • Revenue at INR 9,117 million (growth of 2.6% q-o-q / 15.3% y-o-y)
  • Net profit at  INR 1,408 million (growth of 2.5% q-o-q / 58.6% y-o-y)

Other highlights:  

• Clients:
  • 201 active clients as of December 31, 2014    
  • Adds one client to $50 million category

• Employees:
  • 13,323 employees as of December 31, 2014
  • Added 1,016 employees during the quarter on a gross basis
  • Trailing 12 months attrition is at 18.1%

• Awards and recognition:
  • Ranked in top 5 in the Asiamoney Corporate Governance Poll (India) across categories such as overall corporate governance, disclosure and transparency, shareholder rights and investor relations
  • World rank #4 in 2014 by Association for Talent Development dedicated to learning, training and talent development
  • Krishnakumar Natarajan, MD & CEO, Mindtree was awarded the Best CEO under the IT/ITES (Mid-sized companies) category at the India's Best CEO 2014 awards by Business Today-PricewaterhouseCoopers

• Dividend announcement:
  • The Board of Directors, at its meeting held on January 19, 2015 recommended an interim dividend of 40% (INR 4 per equity share of par value INR 10 each) for the quarter ended December 31, 2014.

About Mindtree 

Mindtree [NSE: MINDTREE; CIN: L72200KA1999PLC025564] delivers technology services and accelerates growth for Global 1000 companies by solving complex business challenges with breakthrough technical innovations. Mindtree specializes in e-commerce, mobility, cloud enablement, digital transformation, business intelligence, data analytics, testing, infrastructure, EAI and ERP solutions. We are among the fastest growing technology firms globally with more than 200 clients and offices in 14 countries.

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:

SOURCE Mindtree

For further information: Priyanka Waghre, Mindtree, [phone], [email protected]; Siddhartha Tanti, Genesis Burson-Marsteller, [phone], [email protected]; Kiran Farooque, PPR Worldwide, [phone], [email protected]; Sarah Elder, Max Borges Agency, [phone], [email protected]; Mindtree Limited, Global Village, RVCE Post, Mysore Road, Bangalore-560059; CIN: L72200KA1999PLC025564; Phone: [phone]; Fax: [phone]; E-mail: [email protected]/[email protected]; Website: http://www.mindtree.com