MindTree surges on reporting better than expected Q1 numbers

18 Jul 2014

Mindtree is currently trading at Rs. 893.45, up by 12.70 points or 1.44% from its previous closing of Rs. 880.75 on the BSE.

The scrip opened at Rs. 902.90 and has touched a high and low of Rs. 905.00 and Rs. 884.00 respectively. So far 31719 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 924.95 on 23-Jun-2014 and a 52 week low of Rs. 450.85 on 18-Jul-2013.

Last one week high and low of the scrip stood at Rs. 905.00 and Rs. 861.80 respectively. The current market cap of the company is Rs. 7485.84 crore.

The promoters holding in the company stood at 16.52% while Institutions and Non-Institutions held 46.04 % and 37.43 % respectively.

MindTree has reported results for first quarter ended June 30, 2014. The company’s net profit for the quarter fall by 4.36% at Rs 129.40 crore as compared to Rs 135.30 crore for the quarter ended June 30, 2013. However, Its total income from operations has increased by 30.23% to Rs 843.50 crore for the quarter under review from Rs 647.70 crore for the corresponding quarter of the previous year.

Net profit during the quarter was lower mainly as foreign exchange gains of the company fell to $2.3 million (around Rs 13.8 crore) in the first quarter, against $11.2 million (around Rs 67.4 crore) in the corresponding quarter of the previous financial year.

Mindtree is a global information technology consulting firm specializing in corporate IT services and solutions. It provides services such as Application Maintenance Services, Business Intelligence, Mainframe and System I, Infrastructure Management and Technical Support, etc.

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