Mindtree reports first quarter FY21 results with EBITDA of 18.2% & healthy order book of USD 391M

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Mindtree, a global technology services and Digital transformation company, guiding it’s clients to achieve faster business outcomes, announced its consolidated results today for the first quarter ended June 30, 2020 as approved by its board of directors.

“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.”

 


Key Financial Highlights:
 

Quarter ended June 30, 2020

  • In USD:
    • Revenue at $253.2 million (decline of 9.0% q-o-q / 4.1% y-o-y)
    • Net profit at $28.3 million (growth of 0.1% q-o-q / 111.7% y-o-y)
  • In INR:
    • Revenue at ₹19,088 million (decline of 6.9% q-o-q / growth of 4.1% y-o-y)
    • Net profit at ₹2,130 million (growth of 3.3% q-o-q / 129.8% y-o-y)

 

Other 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.