Mindtree Ltd delivers digital transformation and technology services from ideation to execution, enabling Global 2000 clients to outperform the competition. Mindtree takes collaborative approach to creating customized solutions across the digital value chain.
Yash Ved of NewsBarons provides you the highlights of a media interaction, where Rostow Ravanan, CEO & Managing Director, Mindtree says “In terms of geographies, US was flat and there was good growth in UK and Europe in terms of deal pipeline.”
NB: Brief us about your Financials?
Rostow Ravanan: The Revenue stood at Rs. 13,316 mn (growth of 3.3% q-o-q / 2.8% y-o-y), while Net profit was at Rs. 1,247 million (growth of 2.5% q-o-q / 31.6% y-o-y).
The Board of Directors at its meeting held on October 25, 2017 have recommended an interim dividend of 20% ( Rs. 2 per equity share of par value Rs. 10 each) and a special dividend of 20% (Rs.2 per equity share of par value Rs. 10 each) on completion of ten years of Initial Public Offering (IPO).
During the quarter ended September 30, 2017, the company received the required regulatory approvals to transfer the business and net assets of our wholly owned subsidiary, Bluefin Solutions Limited, UK (‘Bluefin’) to the Company.
NB: Brief us about the business highlights for the quarter?
Rostow Ravanan: We are on a steady growth trajectory in an evolving marketplace. Our ability to address shifting customer expectations through our innate capabilities in digital as well as traditional services have driven great business outcomes for our clients.
We have about 327 active clients as of September 30, 2017.
Our digital revenues also grew by 3.6%.
In terms of geographies, US was flat and there was good growth in UK and Europe in terms of deal pipeline.
NB: How was the deal pipeline for the quarter?
Rostow Ravanan: We have won multi-year and multi-million dollar deals in this quarter. We also expect good deal pipeline for the coming quarters.
NB: Your outlook for the coming quarters?
Rostow Ravanan: We see continued growth momentum ahead and are progressing with a focus on execution excellence.
We are in line with our estimates for single digit growth for the financial year.
NB: What is your attrition rate?
Rostow Ravanan: Our attrition rate stands has come down to 13%