Mindtree shares zoom nearly 8 pc after Q2 earnings

Shares of IT firm Mindtree jumped nearly 8 percent on Thursday after the company posted a 57.2 percent increase in net profit for the September quarter.

The stock opened in green and jumped 13.15 percent to a 52-week high of Rs 4,937.15 during the day on BSE. It settled 7.56 percent higher at Rs 4,693.20.

On NSE, it zoomed 7.66 percent to close at Rs 4,698.55.

The company's market valuation also jumped Rs 5,466.13 crore to reach Rs 77,344.13 crore on BSE.

Mindtree on Wednesday posted a 57.2 percent increase in net profit to Rs 398.9 crore for the second quarter ended September 2021.

The company had reported a net profit of Rs 253.7 crore in the same quarter a year ago.

Consolidated revenue from operations of Mindtree increased 34.27 percent to Rs 2,586.2 crore during the reported quarter from Rs 1,926 crore in the corresponding quarter of 2020-21.

''Our revenues in the second quarter were USD 350.1 million, up 12.7 percent sequentially and 34.1 percent year-on-year, which was our highest YOY growth for a quarter in a decade,'' Mindtree CEO and MD Debashis Chatterjee said in a statement.

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