Mindtree shares close over 2 pc higher after Q3 earnings

IT firm Mindtree shares on Wednesday jumped over 2 per cent after the company reported a 3 per cent rise in consolidated net profit for the December 2019 quarter.

The scrip gained 2.26 per cent to close at Rs 883.30 on the BSE. During the day, it jumped 4.41 per cent to Rs 901.90.

On the NSE, it climbed 2.37 per cent to close at Rs 884.90.

In terms of the traded volume, 3 lakh shares of the company were traded on the BSE and over 87 lakh shares on the NSE during the day.

Mindtree on Tuesday reported a 3 per cent rise in consolidated net profit at Rs 197 crore for the December 2019 quarter.

The company had posted a net profit of Rs 191.2 crore in the same period last year, Mindtree said in a regulatory filing.

The Bengaluru-based company saw its revenue grew about 10 per cent to Rs 1,965.3 crore in the quarter under review from Rs 1,787.2 crore in the year-ago period, it added.

In dollar terms, net profit rose 3.1 per cent to USD 27.7 million, while revenue increased 9.4 per cent to USD 275.2 million in the said quarter over the year-ago period.