Mindtree Reports 10.3% y-o-y Revenue Growth

Warren, New Jersey and Bangalore, India (ots/PRNewswire) -
Mindtree (http://www.mindtree.com/), 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, 2019 as approved by its board of
directors.

Joint statement by Rostow Ravanan, MD & CEO and Pradip Menon, CFO
on Mindtree's Q1 FY20 earnings - Watch here
(https://www.youtube.com/watch?v=Eva9L1bkMKY&feature=youtu.be)

"We have delivered stable results in the face of many
uncertainties, reflecting the unique strengths of Mindtree," said
Rostow Ravanan, CEO & Managing Director, Mindtree. "This quarter saw
us achieve an all-time high contract closures which sets the pace for
the rest of the year. While the external factors pose some
challenges, nonetheless our focussed strategy and strong client
relationships make us confident of delivering above Industry growth
rates in FY 20 as well."

Key financial highlights:

Quarter ended June 30, 2019

- Revenue at $264.2 million (growth of 0.8% q-o-q / 9.4%
y-o-y)Constant Currency growth of 1.1% q-o-q / 10.3% y-o-y
- Net profit at $13.4 million (decline of 52.7% q-o-q/ 42.7% y-o-y)

- Revenue at INR 18,342 million (decline of 0.3% q-o-q / growth of
11.9% y-o-y)
- Net profit at INR 927 million (decline of 53.3% q-o-q / 41.4%
y-o-y)

- In USD:
- In INR:

Other highlights:

- 346 active clients as of June 30, 2019
- $5 million clients grow by 1, total of 46

- 20,935 Mindtree Minds as of June 30, 2019
- Trailing 12 months attrition is 15.1%

- 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 674 BOTs employed as of June 30, 2019

- Clients:
- People:
- BOTs*:

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

- Multi-year and multi-million dollar wins with leading global
clients:

New Clients:

- Mindtree signed a new contract with a leading Retail player in
Consumer Electronics & Wireless Services to provide Scalable end to
end managed services and drive Automation & Self Service ticketing
- Mindtree will be supporting to manage the Global key enterprise
applications for a German automotive manufacturing company
- For a leading Insurance provider in North America, Mindtree will be
managing their Policy & Billing platform implementation in Agile
environment

Existing Clients:

- Mindtree will provide Network Engineering & Operations on Azure
platform for an existing Global leader in computer software and
technology
- Mindtree will be providing Application Development Services in Data
& Personalization initiatives for an existing leading player in
Hospitality industry of North America

- Mindtree received 'Best Compliance Framework of the Year' at the
Compliance Leadership Summit & Awards 2019, hosted by UBS Forums
- Magnet360, the Mindtree Salesforce practice, has been named a
Leader in the USA and a Rising Star in Germany in Professional
Services for Salesforce Sales and Service Cloud in the U.S. ISG
Provider Lens(TM) 2019 Salesforce Ecosystem Quadrant Study
- Mindtree has been recognized by Information Services Group (ISG), a
leading global technology research and advisory firm, for its role
in two of the top 25 examples of digital transformation in 2019, as
featured in the newly published ISG book Digital Excellence: 25
Winning Partnerships

- Recognition:
- Joint statement by Rostow Ravanan, MD & CEO and Pradip Menon, CFO
on Mindtree's Q1 FY20 earnings - Watch here
(https://www.youtube.com/watch?v=Eva9L1bkMKY&feature=youtu.be)

About Mindtree

Mindtree [NSE: MINDTREE] is a global IT consulting and services
company which helps clients across 18 countries achieve business
agility, competitive edge, and growth. We harness the power of
Continuous Delivery, our digital expertise, industry knowledge, and
research in emerging technologies to drive efficiencies and enable
business innovation for over 346 clients.

Mindtree is consistently regarded as one of the best places to
work. This is a reflection of our entrepreneurial, collaborative and
dedicated "Mindtree Minds" who embody the winning culture that
defines our commitment to excellence, innovation, and co-creation.

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.

Visit us at www.mindtree.com.

For more information, contact:
INDIA
Rahul Nag
Mindtree
+91-9958644228
Rahul.Nag@mindtree.com

UNITED STATES
Erik Arvidson
Matter Communications
+1-978-518-4542
earvidson@matternow.com

EUROPE
Susie Wyeth
Hotwire
+44(0)207-608-4657
susie.wyeth@hotwireglobal.com

Mindtree Limited, Global Village, RVCE Post, Mysore Road,
Bangalore-560059;
CIN: L72200KA1999PLC025564; Phone: +91-80-6706-4000; Fax:
+91-80-6706-4100;
E-mail: info@mindtree.com/investors@mindtree.com; Website:
www.mindtree.com

© Mindtree 2019

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