Mindtree Reports Third Quarter 2019-20 Results

Warren, New Jersey and Bangalore, India (ots/PRNewswire) - - In USD terms, Net
Profit rises 44.7% q-o-q

- Revenue grows 1.5% q-o-q / 9.4% y-o-y

Mindtree (http://www.mindtree.com/), a global technology services and Digital
transformation company, guiding its clients to achieve faster business outcomes,
announced its consolidated results today for the third quarter ended December
31, 2019 as approved by its board of directors.

"As we continue to grow revenue, our sharp focus on driving profitable growth
has resulted in expansion of operating margin by 2.6% and a rise in net profit
by 44.7% as compared to previous quarter," said Debashis Chatterjee, CEO &
Managing Director, Mindtree. "We continue to execute our growth strategy,
proactively incubate deals by mining strategic clients and nurture a
learning-led culture. The recently concluded Annual Customer Experience Survey
results depict industry-leading scores, indicating our exceptional work in
delivering quality services to our clients."

Key financial highlights:

Quarter ended December 31, 2019

- In USD:
- Revenue at $275.2 million (growth of 1.5% q-o-q / 9.4% y-o-y)
- Net profit at $27.7 million (growth of 44.7% q-o-q/ 3.1% y-o-y)
- In INR:
- Revenue at INR19,653 million (growth of 2.7% q-o-q / 10.0% y-o-y)
- Net profit at INR1,970 million (growth of 45.9% q-o-q / 3.0% y-o-y)

Other highlights:

- Clients:
- 320 active clients as of December 31, 2019
- $25 million clients grew by 1, total 5
- $10 million clients grew by 1, total 22
- People:
- 21,561 Mindtree Minds as of December 31, 2019
- Trailing 12 months attrition is 17.2%
- BOTs*:
- Automation is playing a significant role in modernizing our
technology service delivery, enhancing both efficiency and
speed-to-results for our clients. We are proud to report our BOTs
strength that autonomously work along-side our Mindtree Minds,
enabling our team to do more and accomplish larger goals
- We have 715 BOTs employed as of December 31, 2019

*Software that acts autonomously, free from any interference, human or
otherwise, to perform a significant task which will otherwise be performed by a
human

- Q3 deal wins with leading global clients:

New Clients:

- Mindtree has been empaneled to provide end to end ownership of SAP
and Salesforce Application Maintenance and Support Services (AMS)
for a global enterprise supplier of Industrial gases
- Mindtree has been awarded the contract to provide datacenter
support including AWS Cloud Operations for a leading Retail player
in Consumer Electronics & Wireless Services
- Mindtree has been partnered to provide long term road map and
strategic services in digital transformation initiatives for a
multinational American Personal care corporation

Existing Clients:

- For an existing large automotive company in the UK, Mindtree
extended its presence in Implementing Business Intelligence,
Solution Architecture and Program Delivery across the enterprise
CRM portal
- Mindtree will support Digital Marketing Management & Operations for
an existing Global leader in computer software and technology
- Recognition:
- Mindtree named the overall winner of the 2019 ISG Star of
Excellence Award(TM), the industry's first and only recognition
program that ranks providers on the quality of their services based
on direct feedback from enterprise clients.The Star of Excellence
is an independent recognition based on industry wide "Voice of the
Customer". ISG considered over 1,400 unique evaluations, 600 unique
enterprises, 100 providers for this year. Mindtree was recognized
as the winner in North America and Asia Pacific, as well as for
achieving the top score for its application development and
maintenance (ADM) services
- Mindtree has been appraised at Level 5 in the Capability Maturity
Model Integration (CMMI)® V2.0, which represents a proven
commitment to high quality software development processes and
delivery standards. Mindtree is one of the first IT organizations
to be globally recognized for the suite's Development and Services
views
- Mindtree received a prestigious award from South Asian Federation
of Accountants (SAFA) as a mark of recognition of its strong
ethics, excellence in financial reporting and corporate governance
- Mindtree won the 6th Annual IDC Insights Awards 2019 for Excellence
in Operations for its IT infrastructure services, MWatch (https://w
ww.mindtree.com/services/operations/infrastructure-management/mwatc
h-it-infrastructure-management-platform) platform, which enables
the delivery of consistent and optimized infrastructure operations
services through automation
- Mindtree won the 2019 Paragon Awards(TM) in the Excellence category
for our outstanding service delivery for a global airline
- Mindtree named global and US leader in Next-Gen ADM, Agile
Development, and Continuous Testing in the ISG Provider Lens(TM)
Next-Gen Application Development & Maintenance (ADM) Services 2019
Quadrant Report
- Mindtree recognized in the ISG Provider Lens(TM) Public Cloud -
Solutions & Service Partners 2019 Quadrant Report as a Rising Star
globally and in the US for Public Cloud Transformation Services,
and a Rising Star in the US for Managed Public Cloud Services
- Mindtree Named Leader in the Landscape Transformation and Technical
Transition Archetypes in the ISG Provider Lens(TM) SAP HANA and
Leonardo Ecosystem Partners 2019 Archetype Report
- Mindtree Named Innovator in Avasant's Intelligent Automation
Services RadarView(TM) 2019 Report

About Mindtree

Mindtree [NSE: MINDTREE] is a global technology consulting and services company,
helping enterprises marry scale with agility to achieve competitive advantage.
'Born digital', in 1999 and now a Larsen & Toubro Group Company, Mindtree
applies its deep domain knowledge to 300+ enterprise client engagements to break
down silos, make sense of digital complexity and bring new initiatives to market
faster. We enable IT to move at the speed of business, leveraging emerging
technologies and the efficiencies of Continuous Delivery to spur business
innovation. Operating in more than 15 countries across the world, we're
consistently regarded as one of the best places to work, embodied every day by
our winning culture made up of 21,000 entrepreneurial, collaborative and
dedicated "Mindtree Minds."

To learn more about us, visit www.mindtree.com or follow us @Mindtree_Ltd

Safe harbour

Certain statements in this release concerning our future growth prospects are
forward-looking statements, which involve a number of risks, and uncertainties
that could cause our actual results to differ materially from those in such
forward-looking statements. We do not undertake to update any forward-looking
statement that may be made from time to time by us or on our behalf.

Contact:

, contact:
INDIA
Swetha Ganesan
Mindtree
+91-9789061981
swetha.ganesan@mindtree.com
UNITED STATES
Erik Arvidson
Matter Communications
+1-978-518-4542
earvidson@matternow.com
EUROPE
Edward Stevenson
Hotwire
+44(0)783-459-7877
Edward.Stevenson@hotwireglobal.com
Logo: https://mma.prnewswire.com/media/1004066/Mindtree_Logo.jpg

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OTS: Mindtree

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