This has been our best Q3 since 2011: Rostow Ravanan, Mindtree

Mindtree Limited, the digital transformation and technology services that caters to over 2000 global clients, announced it third quarter results and announced that it has been their best Q3 performance post 2011.

Yash Ved of NewsBarons provides you the highlights of an interaction with Rostow Ravanan, CEO & Managing Director, Mindtree informed “These strong results also reflect our ongoing leadership in Digital and our unique ability to be the core Digital anchor-partner for next-generation Digital transformations”.

NB: Brief us about your Financials?

Rostow: For the third quarter ended December 31, 2017, the revenue stood at INR 13,777 million, growth of 3.5% q-o-q and 6.4% y- o-y, and Net profit was at INR 1,415 mn indicating a growth of 13.4% q-o-q and 37.2% y-o-y.

NB: How was the quarter as a whole?

Rostow: Our results were better in Q3. This has been our best Q3 since 2011, which is typically a weak quarter.

These strong results also reflect our ongoing leadership in Digital and our unique ability to be the core Digital anchor-partner for next-generation Digital transformations. By delivering fast time-to-market for our solutions, we have created even further competitive advantage for our clients.

Our verticals also registered good growth led by Retail and insurance segment. Travel and Hospitality grew by 9.3%; Retail, CPG and Manufacturing grew by 5.8%, BFSI grew by 3.7% and Digital business grew 7.1% q-o-q and 24.2% y-o-y.

NB: Your outlook for the coming quarters?

Rostow: We are eyeing single-digit growth for the fourth quarter.

NB: What is your current employee strength and attrition rate?

Rostow: We have about 17,200 Mindtree Minds as of December 31, 2017 and the 12 months attrition rate stood at 12.6%.

NB: What is your global revenue mix?

Rostow: About 68.7% of our revenue comes from US, 20.1% from Europe, 3.1% from India and 7.4% from ROW (Rest of the World).

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Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.
yash@newsbarons.com