Mindtree shares zoom nearly 12% to 52-week high after 57% rise in Q2 net profit

AgenciesUpdated: Thursday, October 14, 2021, 12:30 PM IST
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Mindtree on Wednesday posted a 57.2 per cent increase in net profit to Rs 398.9 crore for the second quarter ended September 2021. |

Shares of IT firm Mindtree jumped nearly 12 per cent on Thursday after the company posted a 57.2 per cent increase in net profit for the second quarter ended September 2021.

The stock opened in the green and jumped 11.92 per cent to a 52-week high of Rs 4,883.40 on the BSE.

At the NSE, it zoomed 11.91 per cent to its 52-week high of Rs 4,884.

At 12.27 PM, the stock jumped 11.60 percent to Rs 4,870 on the BSE while on the NSE, it rose 11.53 percent to Rs 4,867.

Mindtree on Wednesday posted a 57.2 per cent 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 by 34.27 per cent 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 per cent sequentially and 34.1 per cent 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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