Mindtree gains 9% after Q4 earnings amid Covid-19 woes

Published On: Monday, April 27, 2020 | By: Team KnowMyStock

Bengaluru-based IT company Mindtree rallied 9 per cent to Rs 855 on the BSE on Monday in early morning deals after the company posted 4.3 per cent quarter on quarter (QoQ) revenue growth at Rs 2,050 crore for the quarter ended March 2020 (Q4FY20). It posted a net profit of Rs 206.2 crore, a rise of 4.7 per cent sequentially. In a regulatory filing after market hours, Mindtree said its revenue from operations stood at Rs 2,050.5 crore in the final quarter of the financial year 2019-20, up 4.34 per cent on a sequential basis. In dollar terms, Mindtree's net profit grew 1.8 per cent to $28.2 million sequentially, as revenue increased 1.2 per cent to $278.4 million. "Our relentless focus and client-first approach have resulted in robust Q4 performance on multiple dimensions. Looking ahead to fiscal 2021, we anticipate softness in demand due to the unprecedented COVID-19 pandemic,” said Debashis Chatterjee, CEO and managing director, Mindtree.

Closing Bell: Sensex gains 85 points, Nifty at 18755.90

Closing Bell:Sensex gains 418 points, Nifty at 18716.15

MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Closing Bell: Sensex down 223 points, Nifty at 18,563

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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