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Mindtree Shares Zoom Nearly 8 % After Q2 Earnings

The stock opened in green and jumped 13.15 per cent to a 52-week high of Rs 4,937.15 during the day on BSE. It settled 7.56 per cent higher at Rs 4,693.20.

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Shares of IT firm Mindtree jumped nearly 8 per cent on Thursday after the company posted a 57.2 per cent increase in net profit for the September quarter.

The stock opened in green and jumped 13.15 per cent to a 52-week high of Rs 4,937.15 during the day on BSE. It settled 7.56 per cent higher at Rs 4,693.20.

On NSE, it zoomed 7.66 per cent to close at Rs 4,698.55.

The company''s market valuation also jumped Rs 5,466.13 crore to reach Rs 77,344.13 crore on BSE.

Mindtree on Wednesday posted a 57.2 per cent increase in net profit to Rs 398.9 crore for the second quarter ended September 2021.

The company had reported a net profit of Rs 253.7 crore in the same quarter a year ago.

Consolidated revenue from operations of Mindtree increased 34.27 per cent to Rs 2,586.2 crore during the reported quarter from Rs 1,926 crore in the corresponding quarter of 2020-21.

"Our revenues in the second quarter were USD 350.1 million, up 12.7 per cent sequentially and 34.1 per cent year-on-year, which was our highest YOY growth for a quarter in a decade," Mindtree CEO and MD Debashis Chatterjee said in a statement.

(PTI)


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