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

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Consultant picture (Getty Photos)

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

  • PTI
  • Final Up to date: 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 internet 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 internet revenue to Rs 206.2 crore for March 2020 quarter, and mentioned it anticipates softness in demand forward as shoppers defer spending resulting from Covid-19 pandemic.

The Bengaluru-based firm had posted a internet 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 beneath evaluate from Rs 1,839.four crore within the year-ago interval.

“Waiting for fiscal 2021, we anticipate softness in demand as a result of unprecedented Covid-19 pandemic,” Mindtree Chief Government Officer and Managing Director Debashis Chatterjee mentioned.

Nonetheless, the corporate is nicely outfitted to deal with the worldwide disaster based mostly on the enterprise continuity plan we now have efficiently carried out 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 really helpful 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 common assembly.

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