Mindtree Reports Strong Performance in Q3 FY22

Bangalore : Mindtree, a global technology services and digital transformation company, announced its consolidated results today for the third quarter ended December 31, 2021, as approved by its Board of directors.

Key financial highlights:                                       

Quarter ended December 31, 2021

• In USD:
  • Revenue was $366.4 million (growth of 4.7% q-o-q / 33.7% y-o-y)
  • Net profit was $58.3 million (growth of 8.0% q-o-q / 32.1% y-o-y)
• In INR:
  • Revenue was ₹27,500 million (growth of 6.3% q-o-q / 35.9 % y-o-y)
  • Net profit was ₹4,375 million (growth of 9.7% q-o-q / 34.0 % y-o-y)

Other highlights:

• Clients:
  • 265 active clients as of December 31, 2021
  • $5 million+ clients grew by 2, total 52
  • $10 million+ clients grew by 3, total 33
• People:
  • 31,959 Mindtree Minds as of December 31, 2021
  • Trailing 12 months attrition was 21.9%

• Some key deals won in Q3:
  • A leading global hyperscaler signed an annuity contract with Mindtree. As part of the contract, Mindtree will support product/platform operations and security services across geographies.
  • A global vacation company selected Mindtree as a strategic transformation partner to enhance its competitive differentiation in the leisure travel marketplace. Under this multi-year engagement, Mindtree will enable the company to enhance customer experience globally across marketing, sales and services for all its brands in the virtual and the real world.
  • A leading global automotive manufacturer selected Mindtree to implement a digital factory, leveraging the IoT capabilities of Mindtree NxT.
  • One of the largest home improvement retailers in the U.S. awarded an annuity contract to Mindtree for agile-based application development and maintenance services.
  • A leading credit bureau selected Mindtree as a strategic partner to build a new specialty finance platform. Under this program, multiple companies that are acquired with alternative credit data will be integrated on to this platform, providing a strong suite of differentiated data assets and new products to meet changing market needs and enable rapid growth.
  • One of the world’s largest technology companies selected Mindtree as a preferred supplier for product engineering and cloud professional services to enable it to scale faster.
• Recognitions:
  • Named a Major Contender in Everest Group’s Mainframe Services PEAK Matrix® Assessment 2022.
  • Named a Major Contender in Everest Group’s Advanced Analytics and Insights (AA&I) PEAK Matrix® Assessment 2022.
  • Named a Major Contender in Everest Group’s Internet of Things (IoT) Services Supply Chain Solutions PEAK Matrix® Assessment 2022.
  • Named a Major Contender in Everest Group’s Platform IT Banking Services PEAK Matrix® Assessment 2022.
  • Earned the Al and Machine Learning on Microsoft Azure Advanced Specialization.
  • Won the Silver award in the Most Innovative Company of the Year category at the Best in Biz Awards 2021 in North America.