First quarter revenue up 5.5% sequentially in constant currency; EBITDA margins at 21.1%; highest-ever order book at
BENGALURU,
"We are excited to report a strong start to FY23 with robust revenue growth, solid margin, and a record order book, demonstrating our continued industry-leading growth momentum," said
Key financial highlights:
Quarter ended June 30, 2022
- In USD:
- Revenue was
$399.3 million (growth of 4.0% q-o-q / 28.6% y-o-y) - Net profit was
$60.3 million (decline of 3.8%) q-o-q / growth of 29.7% y-o-y) - In INR:
- Revenue was ₹31,211 million (growth of 7.7% q-o-q / 36.2 % y-o-y)
- Net profit was ₹4,716 million (decline of 0.3% q-o-q / growth of 37.3 % y-o-y)
Other highlights:
- Clients:
- 274 active clients as of
June 30, 2022 $10 million+ clients increased by 3, total 35$20 million+ clients increased by 4, total 18- People:
- 37,455 professionals as of
June 30, 2022 - Trailing 12 months attrition was 24.5%
- Some key deals won in Q1 FY23:
- A leading
U.S. -based airline choseMindtree as a preferred digital product development partner. As part of the multiyear deal,Mindtree will help the airline accelerate growth by transforming its core systems and digital channels. - A healthcare technology provider awarded a three-year digital transformation contract to
Mindtree for business-critical application development and maintenance services. - A leading hyperscaler selected
Mindtree for a multiyear managed services deal as part of whichMindtree will provide a wide range of technology and program management support to the company's digital stores worldwide. - A leading global specialty insurance and reinsurance company selected
Mindtree as a preferred partner for a multiyear managed services program spanning cloud, IT infrastructure, and security. - A leading audio technology company chose
Mindtree as a preferred partner for a multiyear managed services deal consisting of cloud, development, and testing services. - An Australian wealth management group selected
Mindtree as a partner of choice for its core modernization and digital transformation program.
- Recognitions:
- Recognized as a major contender by
Everest Group in its Healthcare Payer Digital Services PEAK Matrix® Assessment 2022. - Named an Aspirant by
Everest Group in its Sustainability Enablement Technology Services PEAK Matrix® Assessment 2022. - Achieved certification from the
British Standards Institution (BSI) for seven ISO standards across 18 locations — including five new ones added this year — in theU.S. , theUK ,Poland , andIndia . - Topped CRISIL's ESG evaluation of more than 575 companies in
India across 53 sectors and accorded the "Leadership" position in CRISIL's Sustainability Yearbook 2022. - Ranked among
Asia-Pacific's top ten companies on the FT-Nikkei-Statista Asia-Pacific Climate Leaders list for achieving the greatest reduction in greenhouse gas (GHG) emissions intensity over 2015-2020. - Recognized with BEST awards by the
Association for Talent Development (ATD) for driving impact and solving business challenges through talent development practices. - Won the Golden Peacock Award for Risk Management 2021 for business excellence and maturity in enterprise risk management.
- Won the BW People HR Diversity and Inclusion Award for outstanding D&I initiatives.
About
Safe harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. The conditions caused by the COVID-19 pandemic could decrease customer's technology spending, affecting demand for our services, delaying prospective customers' purchasing decisions, and impacting our ability to provide on-site consulting services; all of which could adversely affect our future revenue, margin and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
For more information, contact: media@mindtree.com.
CIN: L72200KA1999PLC025564; Phone: + 91 80 6706 4000; Fax: +91 80 6706 4100;
E-mail: info@mindtree.com/investors@mindtree.com; Website: www.mindtree.com
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