/C O R R E C T I O N -- Mindtree/

• Helen.zhang

  20 Jul 15, 17:44

  In the news release, "Milestone Quarter for Mindtree - Revenue Crosses $150 Million" issued on 16 Jul 2015 12:48 GMT, by Mindtree over PR Newswire, we are advised by a representative of the company that The headline was incomplete. The correct headline is as follows: 'Milestone Quarter for Mindtree - Revenue Crosses $150 Million, Recommends Interim Dividend' The following quotation was also missing from the release: "We have a great start to the year, driven by multi-year, multi-million dollar deals and strong contract closures. Our Digital story has taken off. We see tremendous opportunities to partner with our clients for their digital transformation initiatives. We have also crossed $150M in revenues this quarter" said Krishnakumar Natarajan, CEO & Managing Director, Mindtree. The above was incorrectly transmitted by PR Newswire. Complete, corrected release follows:

  Milestone Quarter for Mindtree - Revenue Crosses $150 million, Recommends Interim Dividend

  BANGALORE and WARREN, New Jersey, July 16, 2015 /PRNewswire/ -- Mindtree, a global technology services company, announced its consolidated results today for the first quarter ended June 30, 2015, as approved by its Board of Directors.

  "We have a great start to the year, driven by multi-year, multi-million dollar deals and strong contract closures. Our Digital story has taken off. We see tremendous opportunities to partner with our clients for their digital transformation initiatives. We have also crossed $150M in revenues this quarter," said Krishnakumar Natarajan, CEO & Managing Director, Mindtree.

  Key financial highlights:

  • In USD terms:
    • Revenue at $154.9 million (growth of 4.8% q-o-q / 9.7% y-o-y). Constant currency revenue growth of 5.2% q-o-q and 13.3% y-o-y
    • Net profit at $21.8 million (growth of 5.5% q-o-q / 0.6% y-o-y)
  • In Rupee terms:
    • Revenue at INR 9,816 million (growth of 6.9% q-o-q / 16.4% y-o-y)
    • Net profit at INR 1,382 million (growth of 7.4% q-o-q / 6.8% y-o-y)

  Other highlights:

  • Clients:
    • 218 active clients as of June 30, 2015
    • $50 million clients grow to 2
  • Employees:
    • 14,427 employees as of June 30, 2015
    • Added 900 employees during the quarter on a gross basis
    • Trailing 12 months attrition is at 18.4%
  • Multi-year and multi-million dollar wins with leading global clients:
  • A leading personal digital media company. Mindtree will provide Application and Infrastructure Management Services
    • World leader in computer software and technology. For this existing client, Mindtree will provide end-to-end services and support for its cloud offering
    • Leading global insurance company. For this existing client, Mindtree will provide maintenance and support services for its reinsurance applications
  • Awards and recognition:
  • Declared the Gold category award winner of the LearningElite awards 2015 by the Chief Learning Officer Magazine, for its innovative learning and development practices.
  • Earned a special recognition in the Sustained Excellence Category of BML Munjal Awards -2015, organized by the Hero Group for demonstrating business excellence through its learning and development initiatives
  • Awarded the Firm of the year in the Information Technology Sector at the CNBC-TV18 India Risk Management Awards
  • Dividend announcement:
    • The Board of Directors, at its meeting held on July 16, 2015 recommended an interim dividend of 30% (INR 3 per equity share of par value INR 10 each) for the quarter ended June 30, 2015.

  About Mindtree

  Mindtree [NSE: MINDTREE] delivers digital transformation and technology services from ideation to execution enabling Global 2000 clients to outperform competitors. Mindtree was 'Born Digital' and continues to bring extraordinary depth across the entire digital value-chain. With a strong blend of expertise and execution, Mindtree delivers remarkable customer experiences while driving greater efficiency and modernizing business operations. Mindtree's expertise in infrastructure and applications management, combined with the unique Agile Center-of-Excellence, ensures that our clients release products and services to market faster and more cost-efficiently.

  Visit us at www.mindtree.com

  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 www.mindtree.com. For more information, contact:

  Siddhartha Tanti
  Genesis Burson-Marsteller
  +91 99863 62435
  [email protected]

  Pamela Fieldhouse 
  PPR Worldwide 
  +44 0 207 300 6181
  [email protected]

  Priyanka Waghre
  Mindtree 
  +91 98867 29295
  [email protected]

  Sarah Elder 
  Max Borges Agency
  +1 415.548.6850
  [email protected]

  Kiran Farooque 
  PPR Worldwide 
  +44 0 207 300 6181 
  [email protected]

  Mindtree Limited, Global Village, RVCE Post, Mysore Road, Bangalore-560059;

  CIN: L72200KA1999PLC025564; Phone: + 91 80 6706 4000; Fax: +91 80 6706 4100;

  E-mail: [email protected] / [email protected] ; Website: www.mindtree.com

  Source: Mindtree