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Q1 Results: Mindtree’s Profit Halves, Margin Narrows On Wage Hike

Mindtree has delivered stable results in the face of many uncertainties, reflecting its unique strengths, says outgoing CEO.

Aishwarya Tendolkar
L&T was recently categorised as a promoter of Mindtree, after it executed a hostile takeover to acquire a 60.06 percent stake in the company. (Photo: BloombergQuint)

Mindtree Ltd.’s profit for the June quarter halved and results missed estimates as its margin narrowed owing to increased employee costs.

On Wednesday, Mindtree shares rose 0.35 percent to Rs 751.95 apiece on the BSE while the benchmark Sensex gained 0.22 percent to end the day at 39,215.64 points. The Mindtree June quarter results were announced after market hours.

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