BANGALORE and WARREN, New Jersey, January 19, 2017 /PRNewswire/ --
Mindtree, a global technology services company, announced its
consolidated results today for the third quarter ended December 31, 2016, as approved by its Board
of Directors.
(Logo: http://photos.prnewswire.com/prnh/20140416/681203 )
"Strong deal closures in this quarter are testimony to our expertise-led transformation capabilities. We continue to be
seen as a primary partner for both the 'run the business' and 'change the business' technology
initiatives of our clients," said Rostow Ravanan, CEO & Managing Director, Mindtree. "We are confident
that these competencies and our distinctive culture keep us well positioned to succeed in the current dynamic environment.
"
Key Financial Highlights:
Quarter ended December 31,
2016
- In USD terms:
- Revenue at $192.2 million (decline of 0.4% q-o-q* / growth of 4.7% y-o-y)
- Net profit at $15.3 million (growth of 8.1% q-o-q / decline of 28.3% y-o-y)
*constant currency growth of 0.4%
- In Rupee terms:
- Revenue at INR 12,953 million (decline of 0.01% q-o-q / growth of 7.1% y-o-y)
- Net profit at INR 1,031 million (growth of of 8.8% q-o-q / decline of 26.7% y-o-y)
Other Highlights:
- Clients:
- 348 active clients as of December 31, 2016
- First client added to $100 million category
- $10+ million clients grew by 1 to 17
- People:
- 16,099 Mindtree Minds as of December 31, 2016
- Trailing 12 months attrition is 16.1%
- Multi-year and multi-million dollar wins with leading global clients:
- A diverse financial services company: Mindtree will provide application maintenance via a managed services model along with
supporting distribution, digital, mobility and data applications
- A global IT services company: Mindtree chosen as a strategic partner for system integration, digital and infrastructure
services
- A leading consumer credit reporting agency: Mindtree chosen as a preferred partner for application development and
infrastructure support services
- A world leader in lawful monitoring and intelligence solutions: Mindtree chosen as strategic partner for product
development, analytics and digital initiatives
- A leading publishing and events company: Mindtree will provide application support and maintenance services for their ERP
platform
- A leading beauty care company. Mindtree will provide digital services to build a large and complex platform support their
corporate marketing transformation
- A leading international tobacco group: Our subsidiary, Bluefin Solutions, will provide system integration services for SAP
Business Planning & Consolidation and Data Warehouse on SAP HANA
- Awards and recognition:
- Named as a leader for Application Outsourcing Capabilities among Midsize Offshore Vendors by Forrester Research
- Positioned in the leadership zone for product engineering and embedded systems by Zinnov in the Zinnov Zones 2016 Product
Engineering Services report
- Recognized by the Institute of Company Secretaries of India (ICSI) for excellence in
corporate governance
- Announcements
- The Board of Directors, at its meeting held on January 19, 2017
- Recommended an interim dividend of 20% (INR 2 per equity share of par value INR 10 each) for the quarter ended
December 31, 2016
- Approved the extension of Mr. Krishnakumar Natarajan's tenure as Executive Chairman to
June 30, 2020
Note: The financial results above are in accordance with Ind AS for the quarter and nine months ended December 31, 2016. Accordingly the figures for previous periods have been restated in accordance with Ind
AS.
About Mindtree
Mindtree [NSE: MINDTREE] delivers digital transformation and technology services from ideation to execution, enabling Global
2000 clients to outperform the competition. 'Born digital,' Mindtree takes an agile, collaborative approach to creating
customized solutions across the digital value chain. At the same time, our deep expertise in infrastructure and applications
management helps optimize your IT into a strategic asset. Whether you need to differentiate your company, reinvent business
functions or accelerate revenue growth, we can get you there. Visit http://www.mindtree.com to learn more.
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
Debi Senapati
Mindtree
+91-99805-56784
Debi.senapati@mindtree.com
United States
Andrea Dunbeck
Matter Communications
978-518-4555
adunbeck@matternow.com
Europe
Imogen Nation
Hotwire
+4420-7608-4675
imogen.nation@hotwirepr.com