Saturday, January 18, 2014

MINDTREE LTD - QUARTERLY RESULTS - Q EDEC 2013 - REVENUE UP 34%YoY; NPT DOWN 10.4%YoY DUE TO FOREX LOSS



MINDTREE LTD
RESULTS FOR Q E DECEMBER,2012

Key Financial Highlights:

· In USD terms:

o Revenue at $127.1 million (growth of 2.5% q-o-q / 15.7% y-o-y)
o Net profit at $14.2 million (decline of 31.5%* q-o-q / 22.7%* y-o-y)

· In Rupee terms:

o Revenue at ` 7,906 million (growth of 2.7% q-o-q / 34% y-o-y)
o Net profit at ` 885 million (decline of 31.2%* q-o-q / 10.4%* y-o-y)
* Due to forex loss in Q3 of FY14 as against forex gain in Q2 of FY14 and Q3 of FY13

Other highlights:

· Clients:

o 208 active clients as of December 31, 2013
o $5 million clients grow to 22; $10 million clients grow to 13; $20 million clients grow to 6

· Employees:

o 12,992 employees as of December 31, 2013
o Added 397 employees during the quarter on a gross basis
o Trailing 12 months attrition has declined to 11.6% as compared to 15.1% a year ago

Multi-year and multi-million wins with leading global clients:

o One of the top 3 global airlines. Mindtree will provide development and support services for its next generation cargo management system
o World’s leading manufacturer of luxury lifestyle home entertainment products. Mindtree has been chosen as the sole software development partner in the area of video technologies for the next generation Digital TV platform and future video products
o Leading global provider of electronic payments solutions to financial institutions. Mindtree has been chosen to provide engineering solutions, platform enhancements, testing and test automation services
o Leading provider of global information & telecommunication solutions for the air transport industry. Mindtree will provide Oracle application support for their business critical strategic finance systems, for this existing client

· Dividend announcement:

o Company’s goal is to gradually increase the payout and move to a quarterly dividend payment mode. In line with this, the Board of Directors, recommended an interim dividend of 50% (` 5 per equity share of par value `10 each) for the quarter ended December 31, 2013.

About Mindtree

Mindtree is a global information technology solutions company with revenues of over USD 435 million
Mindtree’s consulting-driven approach makes it a strategic partner to many Fortune 500 enterprises.
Mindtree’s ability to devise solutions is equally matched by its ability to execute them.

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