MindTree has zoomed 12% in early trades on the back of 40% jump in revenue in the June quarter.
The firm outpaced analysts' expectations, helped by a 40% jump in revenue from IT services. The Bangalore-based company reported a consolidated net profit of Rs 34.5 crore compared with Rs 15.9 crore a year ago, while a Reuters poll of brokerages had forecast profit of Rs 24.45 crore.
The company, which has 283 active customers, also maintained its operational (EBITDA) margins at 11.2%, compared with 11.3% in the previous quarter, despite wage hikes and appreciation of the rupee.
The stock now trades at Rs 396, up 12.3% and the counter has witnessed volumes of around 345,000 shares so far in the early trades on a combined basis.