Mindtree Soars Nearly 4% On Jump In Q3 Net Profit

Mindtree shares gained nearly 4 per cent in early morning trading after the information technology company owned by Larsen & Toubro (L&T) posted a 65.7 per cent year-on-year rise in net profit to Rs 326.5 crore for the third quarter ended December on the back of improvement in operational efficiencies. At 9:30 am, the shares of Mindtree were trading at Rs 1,724, higher by 3.82 per cent, on the BSE. The shares have touched an intra-day high of Rs 1,759.70 and a low of Rs 1,694.45 thus far.

Mindtree's net profit, on a sequential basis, rose 28.7 per cent. The company's revenue for the quarter stood at Rs 2,023.7 crore, up 5 per cent sequentially and 3 per cent on an annualised basis, driven by broad-based growth across verticals and service lines.

The BSE Sensex was at 48,958.45, higher by 394.85 points or 0.83 per cent and the NSE Nifty was at 14,394.30, up 116.50 points or 0.82 per cent at the time.