Mindtree posts 6% increase in revenue to $109.9 million in Q3

Infotech Lead Asia: Mindtree has posted 6 percent increase in revenue at $109.9 million for the third quarter ended December 31, 2012.

Net profit of Mindtree increased 51.9 percent to $18.4 million.

The company has 245 active customers as of December 31, 2012.

The number of employees in Q3 stood at 10,952. Mindtree added 443 employees during the quarter on a gross basis.

“Our revenue growth has been satisfactory despite a seasonally weak quarter. We are very pleased that our efforts to reposition and strengthen our business continue to yield good results, as can be seen in our strong profitability improvements. Our expertise led positioning is helping us develop deeper customer relationships and deliver transformative changes for existing and new customers,” said Krishnakumar Natarajan, CEO & managing director, Mindtree.

Mindtree’s major client wins:

An existing customer who is a leading superannuation and pension administration specialist based in APAC. Mindtree will provide development and testing services for its core applications.

An existing product engineering services company that provides a cloud platform for collaboration and document sharing. Mindtree will provide product development and test automation services for its products.

A hi-tech company in the area of designing Integrated Circuits based in APAC. Mindtree will license its Bluetooth Low Energy Solution.

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