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MindTree Shares Jump 8% Post Results


Shares in MindTree jumped 8 per cent, after investors cheered the corporate results of the company.


The net profit at the company was placed at Rs 206.2 crores (growth of 4.7% quarter-on-quarter).

The shares of the company were last traded at Rs 842, almost 8 per cent gains over Friday's close. In the initial part of the day, MindTree shares jumped almost 10 per cent.

MindTree Shares Jump 8% Post Results

The company's dollar revenue rose 1.2 percent while topline in rupee terms saw a growth of 4.3 percent on a sequential basis. The company also declared a dividend of Rs 10 per share.

"Our relentless focus and client-first approach have resulted in robust Q4 performance on multiple dimensions - revenue growth of 1.9% in constant currency, expansion of operating margin by 150 basis points and record deal wins of $393M," said Debashis Chatterjee, Chief Executive Officer and Managing Director.

"Looking ahead to fiscal 2021, we anticipate softness in demand due to the unprecedented COVID-19 pandemic. However, we're well equipped to handle the global crisis based on the business continuity plan we have successfully implemented to ensure the health and safety of our employees while fully supporting our clients worldwide. We remain confident that we will continue to create value for our clients, drive profitable growth, develop future-ready talent and maximize shareholder value."

Read more about: mindtree share market
Story first published: Monday, April 27, 2020, 9:50 [IST]
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