Mindtree shares jump nearly 4% after robust Q4 earnings

Shares of software services firm Mindtree today rose by nearly 4 per cent after the company reported over 87 per cent growth in net profit for the January-March quarter.

The stock gained 3.58 per cent to settle at Rs 897.30 on BSE. During the day, it jumped 4.33 per cent to Rs 903.85 -- its 52-week high.

At NSE, shares of the company surged 3.75 per cent to settle at Rs 897.60.

In terms of equity volume, 2.50 lakh shares of the company were traded on BSE and over 57 lakh shares changed hands at NSE during the day.

Mindtree yesterday reported over 87 per cent growth in net profit at Rs 182.2 crore for January-March, 2018, and said it expects the current fiscal to be significantly better than 2017-18.

The firm had posted a net profit of Rs 97.2 crore in the year-ago period. Its revenue rose by 11.1 per cent to Rs 1,464 crore in the January-March 2018 period from Rs 1,318.1 crore a year ago.

"We ended the year on a strong note, and seeing that momentum creating a healthy start to our new fiscal year...We expect the ongoing fiscal to be significantly better than the previous one (FY2018)," Mindtree CEO and Managing Director Rostow Ravanan said on a conference call.

In dollar terms, Mindtree's net profit surged over 95 per cent to USD 28.2 million, while revenue grew 15.6 per cent to USD 226.2 million in the quarter under review.