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18.01.2021 – 13:33

Mindtree

Mindtree reports third quarter FY21 results with broad-based revenue growth of 5.0% q-o-q in USD, EBITDA margin at 23.1% and PAT margin at 16.1%

Warren, N.j. and Bangalore, India (ots/PRNewswire)

Mindtree, a global technology services and digital transformation company guiding its clients to achieve faster business outcomes, announced its consolidated results today for the third quarter ended December 31, 2020, as approved by its board of directors.

"Our third quarter has by far been the best performing in recent years backed by broad-based revenue growth of 5.0% across our verticals and service lines, robust margin expansion of 350bps, and a healthy order book of $312 M," said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree. "We are witnessing strong business momentum across all verticals with a significant demand for cloud, data and analytics capabilities. We continue to capitalize on the evolving market dynamics with solutions that help enterprises navigate the new normal and grow their businesses. Thanks to the strategic focus and hard work of our Mindtree Minds, we are now well-positioned to continue delivering profitable growth."

Key financial highlights:

Quarter ended December 31, 2020

  • In USD:
    - Revenue at $274.1 million (growth of 5.0% q-o-q / decline of 0.4%
      y-o-y) Net profit at $44.2 million (growth of 28.6% q-o-q / 59.3%
      y-o-y)
  • In INR:
    - Revenue at INR20,237 million (growth of 5.1% q-o-q / 3.0% y-o-y)
      Net profit at INR3,265 million (growth of 28.7% q-o-q / 65.7%
      y-o-y)

Other highlights:

  • Clients:
    - 276 active clients as of December 31, 2020 8 new clients added
      during the quarter
  • People:
    - 22,195 Mindtree Minds as of December 31, 2020 Trailing 12 months
      attrition is 12.5%
  • Q3 deal wins with leading global clients:
    - We have been chosen to drive the digital transformation journey of
      a leading global wind turbine manufacturer. As part of this five
      year deal, Mindtree will simplify, modernize, and transform the
      entire IT landscape of the client globally, while providing
      scalability to support the company's growth plans Mindtree
      partnered with a large global airline, as a strategic technology
      partner, to enhance consumer experience on mobile digital
      platforms. We will provide application development and maintenance
      services to enhance the features of the mobile application along
      with underlying services layer A world-leading sportswear brand
      selected Mindtree as a strategic partner for a multi-year
      engagement to provide application development services to
      accelerate their journey towards a product led and
      outcome-oriented organization Mindtree has been selected by a US
      based diverse insurance and reinsurance provider to provide end to
      end IT infrastructure management and cloud services, resulting in
      enhanced efficiency and speed of business standardization
  • Recognition:
    - Mindtree has been recognized as a winner in SHRM HR Excellence
      Awards 2020 under Excellence in HR Analytics Award category
      Mindtree has been honored with the title of IT Pride of Karnataka
      - 2019-20 by STPI IT Export Awards, granted by STPI (Software
      Technology Parks of India) of Karnataka Mindtree has been awarded
      as a top performer, with a score of A-, in the 2020 Climate Change
      ranking by Carbon Disclosure Project (CDP) Mindtree recognized as
      a leader in ISG Provider Lens(TM) for Next-gen Application
      Development and Maintenance (ADM) Services (U.S.) 2020 in
      application maintenance services, agile development, and
      continuous testing Mindtree recognized as leaders in ISG Provider
      Lens(TM) for Digital Business Solutions and Service Partners 2020
      (Australia) and Public Cloud Solutions and Services for Midmarket
      2020 (U.S.)

About Mindtree

Mindtree (NSE: MINDTREE) is a global technology consulting and services company, helping enterprises marry scale with agility to achieve competitive advantage. "Born digital," in 1999 and now a Larsen & Toubro Group Company, Mindtree applies its deep domain knowledge to 275+ enterprise client engagements to break down silos, make sense of digital complexity and bring new initiatives to market faster. We enable IT to move at the speed of business, leveraging emerging technologies and the efficiencies of Continuous Delivery to spur business innovation. Operating in more than 15 countries across the world, we are consistently regarded as one of the best places to work, embodied every day by our winning culture made up of over 22,000 entrepreneurial, collaborative and dedicated "Mindtree Minds."

To learn more about us, visit www.mindtree.com or follow us @Mindtree_Ltd

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. The conditions caused by the COVID-19 pandemic could decrease customer's technology spending, affecting demand for our services, delaying prospective customers' purchasing decisions, and impacting our ability to provide on-site consulting services; all of which could adversely affect our future revenue, margin and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

Contact:

, contact:
INDIA
Tanuja Singh
Mindtree
+91-9741000266
Tanuja.Singh@mindtree.com
Logo: https://mma.prnewswire.com/media/1004066/Mindtree_Logo.jpg

Original content of: Mindtree, transmitted by news aktuell