Mindtree Soars Nearly 4% On Jump In Q3 Net Profit

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Mindtree shares gained nearly 4 per cent in early morning trading after the information technology company owned by Larsen & Toubro (L&T) posted a 65.7 per cent year-on-year rise in net profit to ₹ 326.5 crore for the third quarter ended December on the back of improvement in operational efficiencies. At 9:30 am, the shares of Mindtree were trading at ₹ 1,724, higher by 3.82 per cent, on the BSE. The shares have touched an intra-day high of ₹ 1,759.70 and a low of ₹ 1,694.45 thus far.

Mindtree’s net profit, on a sequential basis, rose 28.7 per cent. The company’s revenue for the quarter stood at ₹ 2,023.7 crore, up 5 per cent sequentially and 3 per cent on an annualised basis, driven by broad-based growth across verticals and service lines.

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