Mindtree Reports Q’ 3, 2019-20 Results

16th January 2020 | By Mouseworld Now Correspondent |

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BANGALORE, India, Jan. 16, 2020 — Mindtree, a leading technology services and Digital transformation company, has announced its consolidated results today for the third quarter ended December 31, 2019 as approved by its board of directors.

Debashis Chatterjee, CEO & Managing Director, Mindtree, said, “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.”

Chatterjee further added, “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.”

For Q’ 3, 2019-20, Mindtree reported a revenue of the USD 275.2 million, a growth of 1.5% q-o-q and 9.4% y-o-y, while the Net profit is estimated at $27.7 million (growth of 44.7% q-o-q/ 3.1% y-o-y).

As of December 31, 2019, Mindtree was serving 320 active clients across geographies and maintains a workforce of
21,561 Mindtree Minds.

In the company’s scheme of things, Automation has been playing a significant role in modernizing its technology service delivery, enhancing both efficiency and speed-to-results for its clients. The company’s 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 ) strength autonomously work along-side the Mindtree Minds, enabling its team to do more and accomplish larger goals. Mindtree employs 715 BOTs as of December 31, 2019.

In Q3, the company also won several leading global 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. The company was also awarded the contract to provide datacenter support including AWS Cloud Operations for a leading Retail player in Consumer Electronics & Wireless Services. It was also partnered to provide long-term road map and strategic services in digital transformation initiatives for a multinational American Personal care corporation.

As far its existing clients are concerned, 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.

Mindtree also won several awards and accolades in recent times. It was declared the overall winner of the 2019 ISG Star of Excellence Award, which ranks providers on the quality of their services based on direct feedback from enterprise clients.
The company was also 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

Among others, the company also won the 6th Annual IDC Insights Awards 2019 for Excellence in Operations for its IT infrastructure services, MWatchplatform, which enables the delivery of consistent and optimized infrastructure operations services through automation

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