Mindtree Net Up 63 Percent In Q3
Bangalore: Mindtree Limited, a global information technology solutions company, announced its results on January 18 for the third quarter ended December 31, 2012, as approved by its Board of Directors.
“Our revenue growth has been satisfactory despite a seasonally weak quarter. We are very pleased that our efforts to reposition and strengthen our business continue to yield good results, as can be seen in our strong profitability improvements. Our expertise led positioning is helping us develop deeper customer relationships and deliver transformative changes for existing and new customers, ” said Krishnakumar Natarajan, CEO & Managing Director, Mindtree Limited.
Key financial highlights:
• In USD terms:
o Revenue at $109.9 million (growth of 2.5% q-o-q / 6.0% y-o-y)
o Net profit at $18.4 million (growth of 42.8% q-o-q / 51.9% y-o-y)
• In Rupee terms:
o Revenue at Rs 5,901 million (decline of 1.0% q-o-q / growth of 13.5% y-o-y)
o Net profit at Rs 988 million (growth of 36.8% q-o-q / 63.0% y-o-y)
Other highlights:
• Customers:
o 245 active customers as of December 31, 2012
o $5 million customers increased by 4 to 21; $10 million customers increased by 1 to 9
• Employees:
o 10,952 employees as of December 31, 2012
o Added 443 employees during the quarter on a gross basis
• Major client wins:
o An existing customer who is a leading superannuation and pension administration specialist based in APAC. Mindtree will provide development and testing services for its core applications.
o An existing product engineering services company that provides a cloud platform for collaboration and document sharing. Mindtree will provide product development and test automation services for its products
o A hi-tech company in the area of designing Integrated Circuits based in APAC. Mindtree will license its Bluetooth Low Energy Solution.
• Others:
o Selected by Forbes Asia as one of the ‘200 Best under a Billion companies’.
o Improved overall Fortune India 500 ranking to 424 from 445 last year.
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