Friday, Jan 28, 2022
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Mindtree Shares Fall 4.17% After Q3 Earnings

Mindtree on Thursday posted a 34 per cent jump in consolidated net profit to Rs 437.5 crore for the December 2021 quarter.

Mindtree Shares Fall 4.17% After Q3 Earnings
Mindtree Shares Fall 4.17% After Q3 Earnings -

Shares of IT firm Mindtree on Friday tumbled over 4 per cent even after the company posted a 34 per cent jump in consolidated net profit for the December 2021 quarter.

The stock plunged 5.61 per cent to Rs 4,477.25 amid profit-taking during the day on BSE. It settled at Rs 4,545, a decline of 4.19 per cent.

On NSE, it dipped 4.17 per cent to close at Rs 4,546 after tumbling 5.62 per cent to Rs 4,477.35 during the day.

Mindtree on Thursday posted a 34 per cent jump in consolidated net profit to Rs 437.5 crore for the December 2021 quarter and exuded confidence in continuing its growth momentum on the back of robust demand and aggressive customer mining.

The Bengaluru-based company had posted a net profit of Rs 326.5 crore in the corresponding period last year.

Its revenue grew about 36 per cent to Rs 2,750 crore in the quarter under review from Rs 2,023.7 crore in the year-ago period.

In dollar terms, net profit rose 32.1 per cent to $58.3 million, while revenue increased 33.7 per cent to $366.4 million in the said quarter over the year-ago period.

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