Friday, September 25, 2020
Financial Results News

Mindtree Reports First Quarter FY21 Results

Revenue at $253.2 million (decline of 4.1% yoy)

Net profit at $28.3 million (growth of 111.7% yoy)

highlights:

  • Clients:
    • 292 active clients as of June 30, 2020
    • 6 new clients added during the quarter
  • People:
    • 21,955 Mindtree Minds as of June 30, 2020
    • Trailing 12 months attrition is 16.6%
  • Q1 deal wins with leading global clients:

New Clients:

  • For a leading manufacturer in outdoor maintenance and gardening equipment, Mindtree has been awarded a program to redefine the e-commerce journey by bringing direct-to-consumer channel using Salesforce commerce cloud and by deploying a new content management system, thereby opening a new revenue stream for the client organization
  • Mindtree has been chosen as the strategic partner for the implementation of Salesforce based Digital Solutions and ServiceNow rollout for pioneer in retail tele-dentistry enterprise based in North America
  • For a global travel technology leader, Mindtree has been chosen as a strategic implementation partner to accelerate their cloud transformation & modernization roadmap to create a new travel market place comprising of critical products and systems across their entire portfolio
  • Mindtree has been chosen for development and testing services for a world leading healthcare manufacturing and distribution company based in North America

Existing Clients:

  • Mindtree has been awarded a multi-year global infrastructure services engagement for a top multinational corporate travel and meetings management company to provide 24×7 remote infrastructure management, administration, monitoring and support services for their data centers across the enterprise

“We closed the quarter with a healthy order book of USD 391M despite the global headwinds due to Covid-19 pandemic. Our unwavering focus on operational efficiencies has helped us to post a healthy EBITDA of 18.2%,” said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree. “With our client-first approach, future-ready talent coupled with increase in digital demand, we are confident to strengthen our position in the market and drive profitable growth in these unprecedented times.”

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