MUMBAI: Shares of Mindtree Ltd surged 9.5% on Monday buoyed by a nearly 5% sequential rise in its January-March consolidated net profit to ₹206.2 crore.
At 1145 am, the stock traded at ₹854.35, up 9.4% from its previous close, while the benchmark Senex was up 2.2% at 32008.73 points.
During the quarter under review, revenue rose 4.3% to ₹2,050.5 crore. The results were announced after market hours on Friday.
According to analysts at Edelweiss Securities Ltd, given its strong deal wins, Mindtree looks better positioned than its mid-cap peers to weather the imminent near-term storm as demand may hit its nadir in first half of FY21. “This coupled with an expanding margin trajectory, not to mention a strong US dollar and weak rupee, underpins