Mindtree Result Highlights
- Mindtree reported a net profit of Rs 253.7 crore for the quarter ended September, a rise of 87.9 per cent compared to a net profit of Rs 135 crore in the same quarter a year ago.
- Revenue rose 0.6 percent on a year-on-year (YoY) basis to Rs 1,926 crore.
- Revenue in dollar terms came in at $261 million, up 3.7 percent YoY, and 3.1 percent QoQ.
- In US dollar terms, the company reported a net profit of $34.3 million, a growth of 79.2 percent on a YoY basis, and 21.5 percent on a quarter-on-quarter (QoQ) basis.
- Mindtree reported an EBITDA margin of 19.6 percent for the 2nd quarter.
Impact on Mindtree
Reported solid numbers, but the further expectation of upside movement is limited.
We saw profit booking in Mindtree from the last two trading sessions. It retraced more than 12% from its lifetime high after rallying more than 35 percent in the last one month. We can expect further profit booking in it and in the short-term, it can test the levels of 1320 – 1260 on the downside.
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