Mid-sized IT firm Mindtree named Rostow Ravanan as its new CEO and managing director, and appointed Krishnakumar Natar-ajan as the executive chairman announcing the management change during its financial quarterly result.
Subroto Bagchi will step down as executive chairman but will continue on the board as non-executive director, the company announced. The changes in the management will be effective from April 1. For the third-quarter that ended December 31, the company said its revenue rose 3.9 per cent to Rs 12,145 million. However, profit after tax fell 4.6 per cent to Rs 1,509 million. The company also said it added 1,306 employees during the quarter on a gross basis. With his appointment as the new CEO Ravanan said the focus of Mindtree will continue to be on delivering outstanding services to its customers.
Talking about the quarter, Natarajan said: “We saw good revenue growth in Q3 as we continue to strike the right chord with our clients. This broad-based result reflects the ongoing momentum of our key focus areas such as Digital and Managed Services.” Retail, CPG and Manufacturing accounted for Rs 247.3 crore, while BFSI and Technology, Media and Services contributed Rs 305 crore and Rs 367.1 crore.
