MindTree rose 3.91% to Rs 1434.70 at 9:56 IST on BSE after consolidated net profit rose 11% to Rs 98.20 crore on 4.2% growth in revenue to Rs 823.70 crore in Q4 March 2014 over Q3 December 2013.
The result was announced after market hours on Wednesday, 16 April 2014.
Meanwhile, the BSE Sensex was up 78.65 points, or 0.35%, to 22,355.88.
On BSE, so far 51,000 shares were traded in the counter, compared with an average volume of 11,395 shares in the past one quarter.
The stock hit a high of Rs 1,455 and a low of Rs 1,412.10 so far during the day. The stock hit a record high of Rs 1,724.95 on 21 February 2014. The stock hit a 52-week low of Rs 782.70 on 17 June 2013.
The stock had underperformed the market over the past one month till 15 April 2014, falling 4.76% compared with the Sensex's 3.10% rise. The scrip had also underperformed the market in past one quarter, sliding 5.35% as against Sensex's 5.62% rise.
The mid-cap company has an equity capital of Rs 41.79 crore. Face value per share is Rs 10.
In dollar terms, MindTree's consolidated net profit rose 11.7% to $15.9 million on 4.4% growth in revenue to $132.8 million in Q4 March 2014 over Q3 December 2013.
MindTree's consolidated net profit surged 32.9% to Rs 450.80 crore on 28.4% growth in revenue to Rs 3031.60 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
In dollar terms, MindTree's consolidated net profit rose 19.3% to $74.6 million on 15.1% growth in revenue to $501.50 million in FY 2014 over FY 2013.
Commenting on the company's financial performance, Krishnakumar Natarajan, CEO & MD, MindTree said, "FY14 has been a momentous year for Mindtree. We crossed half a billion dollars in revenues, $100 million in operating profits and Rs 100 of EPS. As we celebrated this success, I would like to thank all our clients, partners, investors and Mindtree Minds for their immense faith and contribution. We have progressed well in our journey to increase our strategic relevance to our clients. We will continue to aspire to deliver superior financial performance, innovation, industry leadership in our chosen verticals, social responsibility and corporate governance."
MindTree has 207 active clients as of 31 March 2014. The company added 397 employees in Q4 March 2014 on a gross basis.
In order to commemorate the occasion of the company's completion of fifteen years and crossing revenues of $500 million, the board of directors has recommended for the issue of bonus shares to the shareholders of the company in the ratio of 1:1 (i.e. one bonus equity share of Rs 10 each, for every one fully paid up equity share of Rs 10 each, held and on stock options of the company under various plans) by increasing the existing issued, subscribed and paid-up share capital of the company subject to the approval of the shareholders.
MindTree's board recommended interim dividend Rs 5 per share for Q4 March 2014. Further, the board has recommended a final dividend of Rs 5 per share for FY 2014 and a special dividend of Rs 5 per share for completion of 15 years in business. If the proposed 1:1 bonus share issue is approved by shareholders prior to the date of the AGM, the final & special dividend amounts would be accordingly reduced to 25% (Rs 2.5 per share), Mindtree said in a statement.
MindTree is a global information technology solutions company.
Powered by Capital Market - Live News
