Mindtree tanks 18% on revenue miss, cautious outlook; analysts mixed

In dollar terms, Mindtree posted $246.4 million in revenues, a growth of 19.5 per cent y-o-y and two per cent sequentially.

Shares of the mid-tier IT company Mindtree tumbled as much as 17.6 per cent in the intra-day trade on Friday after the company reported subdued revenue growth for the September quarter. The sentiment was also hit on the cautious macro commentary by the management.

The IT firm on Wednesday posted a 65.4 per cent rise in its consolidated net profit at Rs 2.06 billion, on the back of sound growth in travel & hospitality and hi-tech & media verticals. However, it disappointed Street with muted constant-currency (CC) revenue growth of 2.4 per cent in a seasonally strong quarter.

In dollar