Mindtree soars 11% on strong Q3 results

The stock hit a 52-week high of Rs 694, up 11% on NSE after the compared reported a better than expected 13.4% q-o-q growth in net profit at Rs 1.41 billion for December quarter.

Mindtree hit a 52-week high of Rs 694, up 11% on the National Stock Exchange (NSE) in intra-day trade, after the compared reported a better than expected 13.4% quarter on quarter (q-o-q) growth in net profit at Rs 1.41 billion for December quarter (Q3FY18). The information technology services company had profit of Rs 1.03 billion in previous quarter.

Operational revenue grew 3.4% q-o-q at Rs 13.78 billion against Rs 13.32 billion in September quarter. In dollar terms, Mindtree’s revenue grew 3.9% q-o-q at $ 214.3 million.

Analysts on an average had expected profit of Rs 1.09 billion and