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MindTree posts 2.5 percent growth in Q3 results
By siliconindia
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Wednesday, 23 January 2008, 04:29 IST
Bangalore: MindTree Consulting, a global IT and R&D services company, has announced today that it has posted a revenues growth of 2.5 percent (in rupee terms) for the quarter ended December on 31, 2007. The company has registered a year on year (YoY) growth of 27 percent. The profit of after tax (PAT) has increased by 10.4 percent for the same quarter. MindTree has recorded a total income of $186 million.
IT services revenue of MindTree grew by 4.9 percent and R&D services by 5.1 percent (in dollar terms) during the quarter. MindTree crossed the 5,000 mark in people numbers with a gross addition of 828 in the same perio, with the total headcount stands at 5,419 (as of December 31, 2007).
The company added 23 new clients during the quarter; including two Fortune Global 500 organizations. The total client base now stands at 190.
And also, during the same period, MindTree acquired TES-Purple Vision, strengthening its position in the IC design area.
Commenting on the Q3 2007-08 results, MindTree Consulting Chairman and Managing Director Ashok Soota said, "We continue to see high growth potential for our differentiated and value-added offerings. MindTree received recognitions in the areas of knowledge management, corporate governance and people practices during the quarter."