Mindtree stock trades higher ahead of Q2 earnings

The company's net profits for the Jun-21 quarter were up 61.22% on a yoy basis at Rs343.40cr as the top line did far better compared to the Jun-20 quarter.

Oct 13, 2021 10:10 IST India Infoline News Service

MindTree
Mindtree witnessed buying sentiments on stock exchanges during Wednesday's session ahead of the company's earnings for the quarter ending September 2021 (Q2FY22) scheduled for later today.

In the early deals, Mindtree stock has jumped by at least 1.5% on Sensex with an intraday high of Rs4328.40 per piece.

At around 10.39 AM, Mindtree performed at Rs4287 per piece up Rs20.95 or 0.5% on Sensex.

In Q2FY22, Mindtree is expected to lead Tier II growth in the industry, however, the company's EBIT margin will continue to be under pressure sequentially.

The company's net profits for the Jun-21 quarter were up 61.22% on a yoy basis at Rs343.40cr as the top line did far better compared to the Jun-20 quarter, along with an improvement in the EBITDA and EBIT margins.

Meanwhile, the company reported 20.06% growth yoy in total sales revenues for the Jun-21 quarter on a consolidated basis at Rs2,291.70cr. The top line got a big boost from an all-time high order book of $500 million, up 34.2% on a sequential basis.

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