MindTree has slipped over 5% to Rs 1,416 after reporting 31% quarter-on-quarter (qoq) declined in consolidated net profit at Rs 89 crore for the third quarter ended December 2013 (Q3) impacted by forex loss of Rs 27 crore as against gain of Rs 20 crore in September quarter.
The company’s EBITDA (earnings before interest, taxes, depreciation and amortization) and EBIT margin declined 127bp and 134bp qoq to 19.5% and 16.9%, respectively, due to higher employee costs. Revenues however grew by 2.7% at Rs 791 crore on qoq basis.
Meanwhile, MindTree’s management indicated that the deal pipeline of the company remains healthy because of pick up in client spending as well as a result of company’s greater concentration on mining its focus clients, says analyst at Angel Broking in a note.
The stock opened at Rs 1,478 and touched a low of Rs 1,395 on the BSE. A combined 160,000 shares changed hands on the counter so far on the BSE and NSE.
The company’s EBITDA (earnings before interest, taxes, depreciation and amortization) and EBIT margin declined 127bp and 134bp qoq to 19.5% and 16.9%, respectively, due to higher employee costs. Revenues however grew by 2.7% at Rs 791 crore on qoq basis.
Meanwhile, MindTree’s management indicated that the deal pipeline of the company remains healthy because of pick up in client spending as well as a result of company’s greater concentration on mining its focus clients, says analyst at Angel Broking in a note.
The stock opened at Rs 1,478 and touched a low of Rs 1,395 on the BSE. A combined 160,000 shares changed hands on the counter so far on the BSE and NSE.
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