MindTree reveals Q1 FY2013 results

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

MindTree reveals Q1 FY2013 results 
MindTree has announced its standalone results for the first quarter ended June 30, 2012, as approved by its Board of Directors.
Krishnakumar Natarajan, CEO & MD, MindTree said, “The global demand environment continues to be challenging as customers are cautious in their IT spending. However, with our strategic initiatives, we expect to achieve NASSCOM’s current industry estimates for FY2013. Our margins have shown consistent improvement over the last 4 quarters and we will continue to focus on operational efficiencies as we move forward.  Given the great progress we have made, we are embarking on multiple initiatives to enhance our competitiveness, that will elevate us to the next level.”
Key financial highlights Revenue at $105.5 million (growth of 0.4% q-o-q / 14% y-o-y) and Net Profit at $16.7 million (growth of 21.3% q-o-q / 116.2% y-o-y) in USD terms, whereas,  In Rupee terms: Revenue is at `5,630 million (growth of 7.1% q-o-q / 36.3% y-o-y) and Net Profit is revealed at `890 million (growth of 28.6% q-o-q / 157.2% y-o-y).


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