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Shares of MindTree were trading lower by 4% at Rs 1,412 on the NSE after the information technology (IT) consulting and software firm said it expects to post a marginal fall in revenue growth in dollar terms in the fourth quarter of current fiscal (Q4FY15) due to continued depreciation of certain currencies against dollar.
“In dollar terms, MindTree’s quarter-on-quarter revenue growth on an organic basis was likely to post a small decline due to sustained depreciation of certain currencies against the (US) dollar and the delay in the starting of projects at two of its clients in retail and consumer packaged goods vertical,” MindTree said in outlook for Q4FY15.
On a constant currency basis, the revenue growth was expected to be flat. Consequently, the operating margins for the quarter might fall marginally, it added.
However, the company pointed out that as it had indicated earlier, it expects to significantly exceed the Nasscom growth estimates of 12.3% for FY15 and is also confident of exceeding the industry body growth estimates for FY 2016.
The stock opened at Rs 1,420 and touched a low of Rs 1,367 on NSE so far. A combined 340,347 shares changed hands on the counter till 1307 hours on NSE and BSE.
“In dollar terms, MindTree’s quarter-on-quarter revenue growth on an organic basis was likely to post a small decline due to sustained depreciation of certain currencies against the (US) dollar and the delay in the starting of projects at two of its clients in retail and consumer packaged goods vertical,” MindTree said in outlook for Q4FY15.
On a constant currency basis, the revenue growth was expected to be flat. Consequently, the operating margins for the quarter might fall marginally, it added.
However, the company pointed out that as it had indicated earlier, it expects to significantly exceed the Nasscom growth estimates of 12.3% for FY15 and is also confident of exceeding the industry body growth estimates for FY 2016.
The stock opened at Rs 1,420 and touched a low of Rs 1,367 on NSE so far. A combined 340,347 shares changed hands on the counter till 1307 hours on NSE and BSE.
