Mindtree unveils video software for surveillance

MindTree-LtdBangalore, Sep 20 : Leading IT solutions provider Mindtree Ltd Friday unveiled a video management software for surveillance of cities, enterprises, industrial and retail sectors.

"Our latest video management software product - Gladius - is a one-stop solution for security and surveillance requirements of small and mid-sized customers," the city-based Mindtree' chief technology officer S. Janakirman said in statement here.

Besides providing multiple benefits like scalability, video analytics, smart video streaming, the product can be unified with video data, access control events and alarms.

MindTree suffers 20% fall in quarterly net profit

MindTree suffers 20% fall in quarterly net profitSoftware firm MindTree Ltd suffered a quarter-on-quarter decline of 20.1 per cent in net profit in the quarter ended March 31, mainly due to a foreign exchange loss of Rs 15.3 crore.

On Monday, MindTree announced that its net profit slipped to Rs 78.9 crore in the January-March quarter, from Rs 98.8 crore in the October-December quarter. The net profit figure is, however, still higher than analysts' average projection of Rs 78.2 crore.

Mindtree repots 36.8% increase in net profit

Mindtree repots 36.8% increase in net profitMindtree Limited, a leading Information technology solutions company, has said that it has reported an increase of 36.8 per cent in its net profit on a quarterly basis.

The company released its results for the third quarter on Friday. The company's total revenues fell about 1 per cent during the quarter to Rs. 5,901 million while its net profit was recorded at Rs. 988 million, which is 63 per cent higher than the same period of the previous year.

Mindtree revises revenue outlook downwards for fiscal 2013

Mindtree revises revenue outlook downwards for fiscal 2013IT services provider MindTree has revised its revenue outlook downwards for the financial year 2013, indicating that uncertainty in global economic environment is impacting demand.

The Bangalore-based company on Tuesday said it was expecting its revenue growth to slip to below 11 per cent in the fiscal 2013, against its previous revenue growth projection of 11-14 per cent.

Mindtree CFO Rostow Ravanan blamed delays in decision making for slowdown in demand.

MindTree net profit more than doubled in first quarter

MindTree net profit more than doubled in first quarterIT sector firm, MindTree has said that its standalone net profit has more than doubled to Rs 89 crore during the first quarter of the financial year.

The company's standalone net profit was recorded at Rs 34.6 crore in the same quarter of the previous year. The total revenues of the firm increased 36.2 per cent to Rs 563 crore during the April-June quarter compared to Rs 413.1in the first quarter of 2011.

Mindtree Stocks Gained After Sale

Mindtree Stocks Gained After SaleThe news of the partial sale of the stake of MindTree by its former Chairman, Ashok Soota pushed the stock of this Bangalore based IT company to 18% high on Thursday. The investors were concerned about this sale since he took the decision of quitting the company in March 2011.

After the sale of the 5.5% holding by Mr. Soota at a premium of 18.5% to the closing price of Rs. 361 per share, Mr. Soota is expected to sale his remaining stock in the coming few months.

MindTree Ltd. With Target Of Rs 400

MindTree Ltd. With Target Of Rs 400MindTree reported in-line revenue growth of 1.7%QoQ to Rs3,912mn due to volume growth of 2%QoQ after loss of revenue from Kyocera. EBITDA margin at 11.2% was lower than expectation. High forex gain led to EPS of Rs7.8 (5%QoQ growth).

Robust growth in IT Services but PE Services still sluggish In dollar terms, IT services grew 5.4%QoQ, PE Services grew 1.7%QoQ and NIW declined 57%QoQ due to loss of revenue. Overall pricing declined -0.3%QoQ. Overall EBITDA margin declined 40bpsQoQ to 11.2%, despite rupee depreciation and absence of product business’ restructuring cost of USD3.2mn in Q3FY11.

Mindtree stocks falls as Ashok Soota resigns

Mindtree stocks falls as Ashok Soota resigns Ashok Soota has decided to resign from his post as the executive chairman of MindTree and since he is bound by the non-compete agreement he will not be able to take away any of the clients and customers of the software company.

Since this decision was made public, the shares of MindTree have fallen down by 12 per cent to be at 463 rupees in the morning, as soon as the markets opened. And even the stock analysts have asked the share to be kept at a 'hold' rather than 'buy' option.

MindTree Records Flat Volume Growth In Q3

MindTree Records Flat Volume Growth In Q3MindTree reported in-line results with 3.5%QoQ USD revenue growth, due to increase in price realisation and flat volume growth as a result of lower working days in the quarter. Forex gain and lower taxes resulted in higher than expected EPS of Rs7.5 (31.5%QoQ growth).

MindTree outbids big fishes to win UIDAI order

MindTree outbids big fishes to win UIDAI orderMindTree has outperformed larger players like Tata Consultancy Services (TCS), Infosys and Wipro to win the order for India's Unique Identification Authority (UIDAI).

The total worth of the project is Rs. 30 crore and MindTree had to face the local as well as international competition to win such a big project. The information was given by a senior official of the IT ministry.

MindTree is a mid-cap company which is into the business of computer service, won this relatively small government order. But that is not the end of it.

MindTree gives a shock to rivals

MindTreeWhile companies like Tata Consultancy Services (TCS), Infosys and Wipro were also in the race to grab the first Rs. 3 crore contract from the Unique Identification Authority (UIDAI), sources confirm that the government has decided to award this contract to the Mid-sized software service provider MindTree.

MindTree to acquire Kyocera Wireless India

MindTree to acquire Kyocera Wireless IndiaBangalore-based software firm, MindTree Limited has finally agreed to acquire Bangalore-based Kyocera Wireless India Pvt. Ltd.

Under the arrangement, MindTree will make an upfront payment of approximately $6 million for the acquisition. Further payments will be linked to Kyocera Wireless' revenues in financial years 2010-11 and 2011-12.

The IT firm expects the acquisition to contribute about $9 million in revenues for the period Oct 2009 to March 2010, with profit after tax expected to be in the range of 13-15 percent.

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