This Article is From Apr 27, 2020

Mindtree Shares Soar 9% On Jump In Q4 Net Profit

Mindtree Share: The company reported 3.9 per cent year-on-year jump in consolidated net profit at Rs 206.2 crore for fourth quarter ended March 31.

Mindtree Shares Soar 9% On Jump In Q4 Net Profit

Mindtree Share Price: At 11:40 am, the shares were quoting at Rs 856, up 9.5 per cent.

Mindtree shares rose 9 per cent on Monday after the company reported 3.9 per cent year-on-year (YoY) jump in consolidated net profit at Rs 206.2 crore for the fourth quarter ended March 31. At 11:40 am, the shares were quoting just off the day's highs, at Rs 856, up 9.5 per cent. The shares had opened the day at Rs 821 and touched a high of Rs 858 and a low of Rs 814 thus far.

The Bengaluru-based IT services company had reported profit at Rs 198.4 crore in the corresponding quarter last year. The company's consolidated net revenue increased 11.5 per cent on a yearly basis to Rs 2,050.5 crore. The company's board also approved a final dividend of Rs 10 per share for financial year 2019-20.

The company said it has 307 active clients, as of March 31. It added one client in the $10-million category, taking the total number to 23.

Mindtree said it bagged deals worth $1.2 billion in financial year 2019-20 - its highest ever deal win. 

Mindtree was recently acquired by Larsen and Toubro (L&T), the Mumbai-based technology, engineering and financial services giant. The shares of L&T had firmed up by 1.9 per cent to Rs 867.

The Sensex was trading higher by 675 points and the Nifty had added 195 points at the time.