Mindtree shares tumble over 4 pc after earnings announcement

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.

mindtree
The stock plunged 5.61 per cent to Rs 4,477.25 amid profit-taking on the BSE.

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 USD 58.3 million, while revenue increased 33.7 per cent to USD 366.4 million in the said quarter over the year-ago period.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.