Mindtree revises hedging policy after forex loss

Image
BS Reporter Bangalore
Last Updated : Jan 17 2014 | 2:24 AM IST
After a foreign exchange loss of Rs 27.2 crore in the quarter ended December, mid-size information technology (IT) services company Mindtree has decided to change its hedging policy to quarterly from annual.

The Bangalore-based company has seen a sharp difference in earnings over the past few quarters, thanks to annual hedging. The rupee was extremely volatile in the period. It booked forex gains of Rs 20 crore and Rs 14.2 crore in the past quarter and the year-ago period, respectively. It's decision is in line with others in the sector.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 17 2014 | 12:41 AM IST

Next Story