Mindtree Q3 net profit up 13.4%

Mindtree, a global Digital transformation andtechnology services company, announced its consolidated results for the third quarter ended December 31, 2017 as approved by its board of directors.

“Our ‘Execute Smart’ approach to Delivery continues to bear fruit and contributed to a robust quarter on all fronts. By delivering fast time-to-market for our solutions, we have created even further competitive advantage for our clients.” said Rostow Ravanan, CEO & Managing Director, Mindtree. “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.”

The Revenue stood at INR 13,777 million (growth of 3.5% q-o-q / 6.4% y-o-y), while Net profit was at INR 1,415 million (growth of 13.4% q-o-q / 37.2% y-o-y).

Other highlights:

344 active clients as of December 31, 2017

17,200 Mindtree Minds as of December 31, 2017
Trailing 12 months attrition is 12.6%

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.