Mindtree Q1 FY 2015 revenue rose 20%, net profit dips 12%

IT services vendor Mindtree today said its first quarter revenue in FY 2015 rose 20.1 percent to $141.3 million, while net profit dipped 11.9 percent to $21.7 million.

On quarter-on-quarter basis, its first quarter net profit increased 36.7 percent to $21.7 million.

The decline in net profit was due to large forex gain in Q1 of FY2013-14.

Mindtree said it has 206 active clients as of June 30, 2014, while $5 million clients grew to 26 and $1 million clients rose to 75.

The company added 516 employees during the quarter on a gross basis and employee base stands at 12,845 as of June 30, 2014. 12 months attrition is at 14.2 percent, said Mindtree.

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