MindTree
reported $100 million in revenues in the second quarter of 2011.
Revenue
grew by 23 percent YoY to $101.34 million. Profit After Tax (PAT)
increased by 142.3 percent YoY to $12.1 Million.
As of
September 30, 2011, MindTree had 270 active customers, including 43 Global
Fortune 500 Companies. $1 million customers increased by 5 to 72; and $5
million customers increased by 3 to 17.
MindTree added
1,478 people on a gross basis during Q2, taking its total people strength to
10,580 as of September, 30 2011.
“Q2 has
been a stellar quarter on all fronts. We saw a robust revenue growth of
9.5 percent QoQ with both our businesses reporting excellent growth. We
were also able to improve margins through our operational excellence
initiatives and we see this trend continuing. The second successive quarter of
strong performance validates our changed strategy; it has generated
organizational energy to continue the approach of building an expertise led
organization.” said MindTree CEO & managing director, Krishnakumar
Natarajan.
“We
are grateful and energized with this milestone. In the past, we have delivered
great value to our customers through passionate, committed people. We realize
that this relentless focus is the key for success in the years ahead. I
believe that our ability to re-invent ourselves towards being an expertise-led
organization will take us to our next target of $1 billion in revenues,”
Natarajan added.
By
Telecomlead.com Team
editor@telecomlead.com
