Mindtree Shares Tumble Nearly 6 Pc After Earnings Announceme

Mindtree shares tumble nearly 6 pc after earnings announceme


MindTree on Thursday reported a 34 per cent leap in consolidated internet revenue for the December 2021 quarter, and expressed confidence that its progress momentum would proceed as a result of robust demand and aggressive shopper mining.

Shares of IT agency MindTree fell practically 6 per cent on Friday, at the same time as the corporate noticed a 34 per cent leap in consolidated internet revenue for the December 2021 quarter. Shares fell 5.61 per cent to Rs. Reached 4,477.25. On the NSE, it fell 5.62 per cent to Rs. Got here in at 4,477.35.

MindTree on Thursday reported a 34 per cent leap in consolidated internet revenue for the December 2021 quarter, and expressed confidence that its progress momentum would proceed as a result of robust demand and aggressive shopper mining.

The Bengaluru-based firm had invested Rs. 326.5 crore internet revenue. Its income rose about 36 per cent to Rs. 2,750 crore within the corresponding interval of the earlier yr. 2,023.7 crore.

In greenback phrases, internet revenue rose 32.1 p.c to USD 58.3 million, whereas income rose 33.7 p.c to USD 366.4 million.

“Our objective is to drive industry-leading worthwhile progress and we’re nonetheless sticking to it. Should you take a look at the momentum now we have generated during the last 5 quarters, we consider that given the state of demand, that momentum ought to proceed, “mentioned Debashis Chatterjee, CEO and managing director of MindTree. There ought to be no overdose whereas monitoring.

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