The Bengaluru-headquartered company won eight key deals during the quarter. A leading financial institution in Europe selected it as its sole technology partner to accelerate digital transformation spanning data, process, and technology over the next four years.
The IT firm reported a 49 per cent year-on-year rise in consolidated net profit at Rs 473.1 crore for the quarter ending 31 March, 2022 on the back of robust demand and aggressive customer mining.
This stock rose 44% in 3 months, hit 52-week high today
The stock has gained 159 per cent in the last 12 months and risen 39 per cent since the beginning of this year
BusinessToday.In | May 27, 2021 | Updated 16:40 IST
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Share of Mindtree rose 6 per cent to hit a fresh 52-week high of Rs 2,342.60 in intraday trade today on BSE.
The company reported a net profit of Rs 317 crore for the quarter ended March 2021 compared to Rs 326 crore in the year-ago period.
Revenue from operations grew 4.2 per cent to Rs 2,109.3 crore in the March-ended quarter against Rs 2,023 crore in the December quarter. Dollar revenue stood at $288.2 million, up 5.2 percent from the previous quarter.
After 150% rally, Q3 results opened up further upside for this midcap IT firm
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But following a sharp 150 per cent rally in the stock over the past 10 months, analysts have mixed views on Mindtree s potential for further upside.
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Mindtree expects deal wins to improve in the coming quarters as the pipeline remains strong, analysts said.
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NEW DELHI: This midcap IT firm has reported industry-beating numbers for the December quarter, earning a healthy earning upgrade. The company’s margin for the quarter stood at a decadal high, as was sequential revenue growth. The management commentary, too, was strong.