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News Release

Mindtree reports revenue growth of 5.4% q-o-q and 15.6% y-o-y in dollar terms

Global information technology solutions company Mindtree Limited has announced its results
Released: 17th October 2013
Publisher: Scaramanga Communications

Global information technology solutions company Mindtree Limited has announced its results for the second quarter ended 30 September 2013.

In US dollars, revenue grew 5.4 per cent quarter on quarter to $124 million, a 15.6 per cent annual increase. In Rupee terms, the revenue at 7,969million grew 18.8 per cent quarter on quarter and 29.1 per cent year on year. Net profit at $20.7million showed a 15.7 per cent decline quarter on quarter but a 61.2 per cent increase year on year. In Rupee terms, net profit at 1,287 million showed a 4.9 per cent decline quarter on quarter and a 77.8 per cent rise year on year

Mindtree’s customer base now shows 220 active customers with the number of $5million customers growing to 21. The company had 12,941 employees as of 30 September 2013 adding 1,122 employees during the quarter on a gross basis.

During the quarter, Mindtree was selected as one of the “Best Under A Billion” companies in the August issue of Forbes Asia 2013. The company recently won a Gold rating, the highest honour bestowed in each category, of the 5th Annual Golden Bridge Awards. Mindtree was also selected by Microsoft as a Windows Azure Circle partner and was ranked among the top global product engineering service providers by Zinnov research and analysis.

“The relentless execution of our new strategies has delivered two consecutive quarters of strong revenue growth this year,” said rishnakumar Natarajan, CEO & Managing Director, Mindtree. “We continue to invest in expertise-led solutions and attracting top
quality industry talent. This drives positive business outcomes for our customers while achieving sustainable growth”.

The Board of Directors recommended an interim dividend of 50% (5 per equity share of par value 10 each) for the six months ended 30 September 2013.

Further Information

Scaramanga Communications
Peter Scaramanga
Tel: 01342 316193

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Published by: IT Analysis Communications Ltd.
T: +44 (0)190 888 0760 | F: +44 (0)190 888 0761