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MindTree has announced its third quarter numbers of FY09. Its consolidated net profit went down to Rs 8.72 crore as against Rs 35.13 in previous quarter.
The company's net sales increased to Rs 363.80 crore from Rs 312.02 crore, QoQ.
Its standalone net sales have gone up to Rs 275.54 crore from Rs 254.55 crore, QoQ
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MindTree`s consolidated financial highlights for the third quarter ended Dec. 31, 2008 are:
- Software revenues grew by 16.6% quarter over quarter (QoQ) and 93.4% year over year (YoY) to Rs 3,638 million.
- In rupee terms, EBITDA for the quarter was 30.5% against 27.8% in Q2 2008-09 and 16.8% in Q3 2007-08. This reflects a QoQ growth of 28% and a YoY growth of 251.6%.
- In rupee terms, MindTree`s (Q, N,C,F)* IT Services revenues grew by 7.7% QoQ and 50.6% YoY. R&D Services posted a growth of 10% QoQ and 34.6% YoY.
Other Q3 Highlights for MindTree
Guidance
- The company has revised its revenue guidance for the current year to USD 223-225 million indicating a growth of 22.1-23.2% over the previous year. EBITDA guidance is USD 51-53 million for the year. The company has revised its PAT guidance for the current year to USD 12.8-14.5 million.
- On a consolidated basis, MindTree has announced a revenue guidance of USD 269-273 million for 2008-09, EBITDA of USD 62-65 million and PAT of USD 14.8-17.5 million. - As announced earlier, Aztecsoft financials are consolidated with MindTree effective August 1, 2008
- As announced earlier, Aztecsoft financials are consolidated with MindTree effective August 1, 2008
- The above guidance is based on an exchange rate of Rs 48.50 = USD 1.
Speaking about the results, MindTree, chief executive officer, Krishnakumar Natarajan said, ``In the backdrop of a global softness in demand, we are satisfied with our results this quarter. We will continue to invest in strategic initiatives which improve our competitive positioning.``
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