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Mindtree up 5% on strong September quarter

The stock surged after the company posted 15.1 per cent rise in its net profit at Rs 158.2 crore for the September quarter.

BT Online   New Delhi     Last Updated: October 16, 2015  | 16:21 IST
Mindtree up 5% on strong September quarter
The stock hit its intraday of Rs 1475, up 5.11 per cent on the Bombay Stock Exchange (BSE). Photo: Reuters

Shares of Mindtree surged over 5 per cent in trade on Friday after the company posted 15.1 per cent rise in its net profit at Rs 158.2 crore for the September quarter.

The mid-sized firm had posted net profit of Rs 137.4 crore in the July-September quarter of the 2014-15 fiscal.

The stock ended the day 1.53 per cent up after hitting its intraday high of Rs 1475, up 5.11 per cent on the Bombay Stock Exchange (BSE) .

The IT firm's revenue increased by 31.6 per cent to Rs 1,169.3 crore for the second quarter from Rs 888.6 crore in the year-ago period.

"This has been a stellar quarter on all fronts. Our recent strong deal wins and strategic acquisitions will fuel growth in the coming quarters," Mindtree CEO and Managing Director Krishnakumar Natarajan told reporters on a conference call.

He added that there is a strong momentum in deal closures, especially for digital transformation deal that are also growing in size.

Talking about the quarter ahead, Natarajan said traditionally the third quarter is weak on account of leaves and furloughs.

(With inputs from PTI)

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