Mindtree plunges 6% on disappointing Q1 nos.

Its PAT in Q1FY20 declined by 53.3% qoq to Rs93cr against median consensus estimate of Rs174cr.

Jul 18, 2019 05:07 IST India Infoline News Service

MindTree
Shares of Mindtree are trading 6% down after plunging 10% intraday over bleak Q1 numbers.

Mindtree reported numbers that came in below expectations for Q1FY20.

Revenue in Indian Rupee terms declined by 0.3% qoq to Rs1,834cr, which is lower than median consensus estimate of Rs1,855cr.

EBIT stood at Rs117cr, down 50.7% qoq, which is lower than median consensus estimate of Rs209cr. EBIT margin contracted by 652bps qoq to 6.4%.

Further, PAT declined by 53.3% qoq to Rs93cr against median consensus estimate of Rs174cr.

 Mindtree Ltd is currently trading at Rs706.25 down by Rs45.7 or 6.08% from its previous closing of Rs751.95 on the BSE.
The scrip opened at Rs695 and has touched a high and low of Rs725.20 and Rs675.05 respectively. So far 76,45,845 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs12,366.23cr.

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