Mindtree Reports Strong All-Round Performance in Q2 FY22

Bangalore: Mindtree, a global technology services and digital transformation company, announced its consolidated results today for the second quarter ended September 30, 2021, as approved by its Board of directors.

Key financial highlights:                                       

Quarter ended September 30, 2021

• In USD:
  • Revenue was $350.1 million (growth of 12.7% q-o-q / 34.1% y-o-y)
  • Net profit was $54.0 million (growth of 16.0% q-o-q / 57.3% y-o-y)
• In INR:
  • Revenue was ₹25,862 million (growth of 12.9% q-o-q / 34.3 % y-o-y)
  • Net profit was ₹3,989 million (growth of 16.2% q-o-q / 57.2 % y-o-y)

Other highlights:

• Clients:
  • 263 active clients as of September 30, 2021
  • $5 million+ clients grew by 3, total 50
  • $10 million+ clients grew by 5, total 30
• People:
  • 29,732 Mindtree Minds as of September 30, 2021
  • Trailing 12 months attrition was 17.7%

• Some of the key deals won in Q2:
• A leading European producer of dairy and farming machinery awarded Mindtree a multiyear contract to transform, implement, and support digital workplace services across the globe.
• A leading insurance and investment organization selected Mindtree and Duck Creek to drive core transformation and rollout covering a range of products across the US, Canada, Europe, Latin America and Asia-Pacific.
• A leading global technology company selected Mindtree to envision and execute a strategic data modernization program.
• One of the world’s largest airlines selected Mindtree as their enterprise assurance partner under a multiyear deal to accelerate time-to-market and significantly reduce the total cost of ownership through automation.
• A large global bank selected Mindtree for a multiyear deal to provide global support to the content and event operations of the marketing function of its asset and wealth management unit.
• Recognitions:
• Certified by Great Place to Work® Institute as a Great Place to Work® in India for 2021-22
• Recognized by Great Place to Work® Institute as one among India’s Best Workplaces™ for Women for 2021 (Top 50 – Large Companies)
• Won three Brandon Hall Group Human Capital Management Excellence Awards for 2021 for innovative leadership development, HR data analytics, and employee benefits, wellness and well-being programs
• Achieved the Data Analytics Services Partner Specialization in the Google Cloud Partner Specialization Program
• Named a Major Contender in Everest Group’s Application Transformation Services PEAK Matrix® Assessment 2021 report
• Named a Major Contender in Everest Group’s Data and Analytics Services PEAK Matrix® Assessment 2021 report
• Won Microsoft Teams’ Hybrid Work Hackathon 2021; recognized for the fourth consecutive term at Microsoft Teams Hackathon
• Announcement:
• The Board of Directors at its meeting held on October 13, 2021, has declared an interim dividend of 100% (₹ 10.0 per equity share of par value ₹ 10 each).