Mindtree Reports Strong Fourth Quarter and Year End Results

News provided by

Mindtree

18 Apr, 2018, 11:59 GMT

BANGALORE, India and WARREN, New Jersey, April 18, 2018 /PRNewswire/ --

Multiple large-deal wins power growth, sets the trend for FY19

Mindtree, a global technology services and digital transformation company, guiding it's clients to achieve faster business outcomes, announced its consolidated results today for the fourth quarter and year ended March 31, 2018 as approved by its board of directors.

     (Logo: https://mma.prnewswire.com/media/633364/Mindtree_Logo.jpg )

"We ended the year on a strong note, and seeing that momentum creating a healthy start to our new fiscal year. It's especially heartening that our client satisfaction ratings reached an all-time high, setting the benchmark in our industry," said Rostow Ravanan, CEO & Managing Director, Mindtree. "Our enduring strategic investments in expertise for Domain, Digital and Run are clearly recognized by the market. The further success of our large deal focus reflects the need for Global 2000 businesses to marry large scale with agility. Mindtree is in that sweet-spot."  

Key financial highlights:  

Quarter ended March 31, 2018 

  • In USD:
    • Revenue at $226.2 million (growth of 5.5% q-o-q / 15.6% y-o-y)
    • Net profit at $28.2 million (growth of 27.9% q-o-q/ 95.2% y-o-y)
  • In INR:
    • Revenue at ₹ 14,640 million (growth of 6.3% q-o-q / 11.1% y-o-y)
    • Net profit at ₹ 1,822 million (growth of 28.8% q-o-q / 87.5% y-o-y)

Year ended March 31, 2018 

  • In USD terms:
    • Revenue at $846.8 million (growth of 8.6%)
    • Net profit at $88.4 million (growth of 41.8%)
  • In Rupee terms:
    • Revenue at ₹ 54,628 million (growth of 4.3%)
    • Net profit at ₹ 5,701 million (growth of 36.2%)

Other highlights:  

  • Clients:
    • 338 active clients as of March 31, 2018
    • $25 million clients grow by 1, total of 4
    • $10 million clients grow by 2, total of 17
    • $5 million clients grow by 1, total of 38
    • $1 million clients grow by 4, total of 118
  • People:
    • 17,723 Mindtree Minds as of March 31, 2018    
    • Trailing 12 months attrition is 12.5%
  • BOTs*:
    • Automation is playing a significant role in modernizing our technology service delivery, enhancing both efficiency and speed-to-results for our clients. We are proud to report our BOTs strength that autonomously work along-side our Mindtree Minds, enabling our team to do more and accomplish larger goals.  
    • We have 335 BOTs employed as of March 31, 2018

*Software that acts autonomously, free from any interference, human or otherwise, to perform a significant task which will otherwise be performed by a human 

  • Multi-year and multi-million dollar wins with leading global clients:
    • Mindtree was awarded its largest single contract to date by an existing customer, in the airline industry in the USA. Under this contract, Mindtree has been given the full ownership of the QA function and is working with the client to radically redefine the QA function
    • For a partner and an existing customer in the enterprise software product segment, Mindtree extended its presence into the Infrastructure Management area with a differentiated value proposition and was awarded a multi-year, multi-million dollar opportunity
    • Providing cutting-edge analytics using SAP HANA to deliver customer insights for a large automotive company in the UK
    • An existing airline client in the USA  has chosen Mindtree as a strategic partner to support application development, maintenance and quality assurance services, as part of their IT transformation initiative
  • Awards and Recognition:
    • Awarded the 2018 Adobe Experience Business Award for excellence in Omni-channel Experience Management
  • Announcements
    • The Board of Directors at its meeting held on April 18, 2018, have declared an interim dividend of 20% (₹ 2 per equity share of par value ₹ 10 each) and recommended a final dividend of 30% (₹ 3 per equity share of par value ₹ 10 each) which is subject to approval of shareholders.                       

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
Divya Jain                                                                         
Value360 Communications                                             
+91-99997-04100       
Divya@value360india.com   

United States
Erik Arvidson
Matter Communications
+1-978-518-4542
earvidson@matternow.com

Europe
Susie Wyeth
Hotwire
+44(0)207-608-4657
susie.wyeth@hotwireglobal.com