Wed, 08 Dec 2021

Bangalore, [India], October 13 (ANI/ PRNewswire):"We are pleased to report yet another outstanding quarter of all-round performance," said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree. "Our revenues in the second quarter were $350.1 million, up 12.7% sequentially and 34.1% year-over-year, which was our highest YoY growth for a quarter in a decade. We maintained EBITDA margin at 20.5% while making aggressive investments in further expanding our domain, digital and leadership capabilities, geographic footprint, and hyperscaler partnerships. The broad-based momentum and growth outlook across all verticals, service lines and geographies attest to our operational rigor and sharp focus on being a trusted business transformation partner to our clients. Thanks to the disciplined execution of our strategy, and the dedication of Mindtree Minds, we are well-positioned to capitalize on the strong demand environment and deliver profitable, industry-leading growth in FY22."Key financial highlights:Quarter ended September 30, 2021In USD:Revenue was $350.1 million (growth of 12.7% q-o-q / 34.1% y-o-y)Net profit was $54.0 million (growth of 16.0% q-o-q / 57.3% y-o-y)In INR:Revenue was Rs25,862 million (growth of 12.9% q-o-q / 34.3 % y-o-y)Net profit was Rs3,989 million (growth of 16.2% q-o-q / 57.2 % y-o-y)Other highlights:Clients:263 active clients as of September 30, 2021$5 million clients grew by 3, total 50$10 million clients grew by 5, total 30People:29,732 Mindtree Minds as of September 30, 2021Trailing 12 months attrition was 17.7%Some of the key deals won in Q2:A leading European producer of dairy and farming machinery awarded Mindtree a multiyear contract to transform, implement, and support digital workplace services across the globe.

A leading insurance and investment organization selected Mindtree and Duck Creek to drive core transformation and rollout covering a range of products across the US, Canada, Europe, Latin America and Asia-Pacific.

A leading global technology company selected Mindtree to envision and execute a strategic data modernization program.

One of the world's largest airlines selected Mindtree as their enterprise assurance partner under a multiyear deal to accelerate time-to-market and significantly reduce the total cost of ownership through automation.

A large global bank selected Mindtree for a multiyear deal to provide global support to the content and event operations of the marketing function of its asset and wealth management unit.

Recognitions:Certified by Great Place to Workreg;Institute as a Great Place to Workreg;in India for 2021-22Recognized by Great Place to Workreg;Institute as one among India's Best Workplacestrade;for Women for 2021 (Top 50 - Large Companies)Won three Brandon Hall Group Human Capital Management Excellence Awards for 2021 for innovative leadership development, HR data analytics, and employee benefits, wellness and well-being programsAchieved the Data Analytics Services Partner Specialization in the Google Cloud Partner Specialization ProgramNamed a Major Contender in Everest Group's Application Transformation Services PEAK Matrixreg;Assessment 2021 reportNamed a Major Contender in Everest Group's Data and Analytics Services PEAK Matrixreg;Assessment 2021 reportWon Microsoft Teams' Hybrid Work Hackathon 2021; recognized for the fourth consecutive term at Microsoft Teams HackathonAnnouncement:The Board of Directors at its meeting held on October 13, 2021, has declared an interim dividend of 100% (Rs 10.0 per equity share of par value Rs 10 each).

This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

More Middle East News

Access More

Sign up for Middle East News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!