Mindtree Q3 revenue up 16%, profit dips 23%

Mindtree said its third quarter revenue rose 15.7 percent to $127.1 million, but net profit declined 22.7 percent to $14.2 million.

Mindtree had 208 active clients as of December 31, 2013.

The company said $5 million clients grew to 22, while $10 million clients increased to 13 and $20 million clients reached 6.

Mindtree added 397 employees during the quarter on a gross basis· Total number of employees stood at 12,992 employees as of December 31, 2013.


Attrition has declined to 11.6 percent as compared to 15.1 percent a year ago, said Mindtree.

Recent client wins:

One of the top three global airlines chose Mindtree to provide development and support services for its next generation cargo management system.

World’s leading manufacturer of luxury lifestyle home entertainment products selected Mindtree as the software development partner in the area of video technologies for the next generation Digital TV platform and future video products.

A global provider of electronic payments solutions to financial institutions selected. Mindtree has been chosen to provide engineering solutions, platform enhancements, testing and test automation services

A provider of global information & telecommunication solutions for the air transport industry has tapped Mindtree to provide Oracle application support for their business critical strategic finance systems.

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