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Looking at a future beyond digital like AI, quantum computing, says Mindtree

Updated : July 19, 2018 14:28:45 IST

Shares of Mindtree fell over 9 percent on Thursday after the company reported a 13 percent drop in its net profit for the June quarter.

Rostow Ravanan, CEO of Mindtree spoke to CNBC-TV18 about the results and his assessment of the company's digital growth.

Ravanan said that both traditional and digital businesses grew in the quarter gone by.

“Digital business grew above 12 percent whereas even our traditional service lines like infrastructure and testing grew by 10 percent each in this quarter,” he added.

He further said that retail, CPG and travel business saw higher growth on digital front. However, BFSI saw relatively lower growth compared to digital, Ravanan added.

On growth front, he said, "We are looking at a future beyond digital like artificial intelligence (AI) and quantum computing."

Talking about business, he said, “This quarter we signed deals worth Rs 306 million, amongst the best that we have had in the recent quarters, distributed across both digital and run across verticals, across short-term contracts and long-term contracts. So overall pipeline, momentum, win ratios for Mindtree, decisions by customers, all appear to be very favourable.”
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