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Bengaluru-based Mindtree Shares Zoom 10% After This fall Earnings

Representative image (Getty Images)

Representative picture (Getty Images)

After market hours on Friday, Mindtree reported 3.9 per cent rise in consolidated web revenue to Rs 206.2 crore for March 2020 quarter, and stated it anticipates softness in demand forward as shoppers defer spending as a consequence of Covid-19 pandemic.

  • PTI
  • Last Updated: April 27, 2020, 12:06 PM IST

Shares of IT agency Mindtree on Monday rallied 10 per cent after the corporate reported 3.9 per cent rise in consolidated web revenue for March 2020 quarter.

The scrip zoomed 9.99 per cent to Rs 858.75 on the BSE.

On the NSE, it jumped 9.99 per cent to Rs 858.35.

After market hours on Friday, Mindtree reported 3.9 per cent rise in consolidated web revenue to Rs 206.2 crore for March 2020 quarter, and stated it anticipates softness in demand forward as shoppers defer spending as a consequence of Covid-19 pandemic.

The Bengaluru-based firm had posted a web revenue of Rs 198.four crore in the identical interval final yr.

Its income grew 11.5 per cent to Rs 2,050.5 crore within the quarter underneath evaluation from Rs 1,839.four crore within the year-ago interval.

“Looking ahead to fiscal 2021, we anticipate softness in demand due to the unprecedented Covid-19 pandemic,” Mindtree Chief Executive Officer and Managing Director Debashis Chatterjee stated.

However, the corporate is properly geared up to deal with the worldwide disaster based mostly on the enterprise continuity plan we have now efficiently applied to make sure the well being and security of our workers whereas absolutely supporting our shoppers worldwide, he added.

Mindtree’s board of administrators has advisable a closing dividend of Rs 10 per fairness share for the monetary yr ended March 31, 2020, topic to the approval of shareholders on the 21st annual normal assembly.

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