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.