MindTree to integrate BI/Data Warehousing & Analytics into Data & Analytics

Posted By: Religare
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MindTree to integrate BI/Data Warehousing & Analytics
On Monday, Global IT and product engineering company MindTree announced the integration of its Business Intelligence, Data Warehousing and Knowledge Services practices, forming a new Data and Analytical Solutions (DAS) practice.

The incorporation creates one of the world's biggest information management practices, offering customers an integrated platform to capture, analyze, enhance and view their business information in support of their corporate objectives.

The MindTree DAS headed by Scott Staples serves a wide clientele including retail, insurance, finance and consumer packaged goods markets.

Late last month the company released its financial results and for the quarter ending March 31, 2011 its net profit was recorded at Rs. 32.2 crore as against Rs. 30.5 crore( QoQ). In addition net sales stood at Rs. 391 crore against Rs. 323 crore, (QoQ). However YoY, fourth quarter net profit dipped 41per cent, this was attributed to lower foreign exchange gains and an increase in sub-contracting costs.

Post the results, the company"s chairman, Albert Hieronimus was quoted saying “We would change from a wide approach to a focused approach, to go back and try not to be the biggest but the best in certain segments". He hopes a change in strategy would boost the company results for Q1 FY"12.

Currently on the Bombay Stock Exchange (BSE), stocks of the firm are trading at Rs. 361.90 down by 1.52 per cent or by Rs. 5.60. So far the stock has seen an intraday high of Rs. 372.90 and a low of Rs. 355.05. (2:30 P.M IST).

Read more about: mindtree, bse, results
Story first published: Tuesday, May 3, 2011, 9:30 [IST]
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