MindTree slips after Q4 results

MindTree fell 3.97% to Rs 1336 at 9:33 IST on BSE after consolidated net profit rose 8.6% to Rs 128.70 crore on 0.7% rise in revenue to Rs 918.10 crore in Q4 March 2015 over Q3 December 2014.

The result was announced after market hours yesterday, 16 April 2015.

Meanwhile, the BSE Sensex was down 54.19 points, or 0.19%, to 28,611.85.

On BSE, so far 6,503 shares were traded in the counter, compared with an average volume of 13,335 shares in the past one quarter.

The stock hit a high of Rs 1,380 and a low of Rs 1,335.45 so far during the day. The stock hit a record high of Rs 1,589.10 on 9 April 2015. The stock hit a 52-week low of Rs 649.20 on 19 May 2014.

The stock had underperformed the market over the past one month till 16 April 2015, falling 0.88% compared with 0.80% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 0.82% as against Sensex's 1.93% rise.

The large-cap company has an equity capital of Rs 83.73 crore. Face value per share is Rs 10.

MindTree's net profit rose 19% to Rs 536.30 crore on 17.5% increase in revenue to Rs 3561.90 crore in the year ended March 2015 over the year ended March 2014.

"We have delivered industry leading performance with a revenue growth of 16.4% for the fiscal year ended March 2015 (FY15). The results validate our decision to transform Mindtree to be a valued, digital partner for our clients. In this, our expertise in agile, analytics, cloud and Internet of Things (IoT) is making deep impact. What makes us additionally happy is that our customer satisfaction levels are at a record 3-year high," said Krishnakumar Natarajan, CEO & Managing Director, Mindtree.

MindTree said that the board of directors of the company at its meeting held on 16 April 2015 have recommended a final dividend of Rs 10 per share for the year ended 31 March 2015. Accordingly, the cumulative dividend declared by the board of directors for the year ended 31 March 2015 aggregated to Rs 17 per share.

Mindtree delivers technology services, specializing in e-commerce, mobility, cloud enablement, digital transformation, business intelligence, data analytics, testing, infrastructure, EAI and ERP solutions.

Powered by Capital Market - Live News