Multiple large-deal wins power growth, sets the trend for FY19
Mindtree [http://www.mindtree.com ], a global technology services and digital transformation company, guiding its 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.
"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 INR 14,640 million (growth of 6.3% q-o-q / 11.1% y-o-y)
- Net profit at INR 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 INR 54,628 million (growth of 4.3%)
- Net profit at INR 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% (INR 2 per equity share of par
value INR 10 each) and recommended a final dividend of 30% (INR 3 per
equity share of par value INR 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. F
