Company inducts five independent directors on the board
BANGALORE: MindTree Consulting, the IT and R&D services company, reported a profitable 2006-07. IT services revenue of the company grew by 30 per cent to Rs. 445.88 crore and R&D services revenue by 37 per cent to Rs. 144.46 crore. Earnings per share went up by 44 per cent to Rs. 29.
The directors have recommended a final dividend of Re. 1 per share.
The company commenced operations in Chennai and it acquired land to build its development centre in Bhubaneswar. The year also saw the company launch its infrastructure management and tech support service divisions. It added 17 new major customers overseas and increased the total number of employees to 4,162.
About the guidance for 2007-08, Ashok Soota, Chairman and Managing Director, said a revenue growth of 36 per cent was possible.
Meanwhile, the company has reconstituted its board with the induction of five new members as independent directors. They are: Albert Hieronimus, Managing Director of MICO and Chairman of Robert Bosch India; George Scalise, President of Semiconductor Industry Association (SIA) in the U.S.; Mark Runacres, consultant; N. Vittal, former Chief Vigilance Officer of India, and R. Srinivasan, former Managing Director of Widia (India). MindTree has development centres in India and in the U.S.