Mindtree slips 3% after 26% drop in Q3 net profit

The company posted profits of Rs 140 cr on a revenue of Rs 1,209 cr in the Oct-Dec period last year

Shares of MindTree slipped nearly 3% in trade on Friday after the IT company reported 26% drop in its net profit at Rs 103 crore due to poor performance of its US and Europe subsidiaries.

Reacting to the earnings, the stock fell as much as 2.8% to Rs 471 on the BSE. 

The Bengaluru-based company posted profits of Rs 140 crore on a revenue of Rs 1,209 crore in the October to December period last year.

"The year-on-year decline in net profit can be contributed partly to currency fluctuations and partly to poor performance of our international business. The companies