Mindtree shares close over 1% higher as net profit jumps

Shares of IT firm Mindtree closed over 1 per cent higher on Tuesday after the company reported a 65.7 per cent rise in its consolidated net profit for the December 2020 quarter.

The stock closed at Rs 1,680.30, a gain of 1.19 per cent on the BSE. During the day, it gained 5.96 per cent to Rs 1,759.70.

On the NSE, it gained 1.11 per cent to close at Rs 1,682. Mindtree on Monday reported a 65.7 per cent rise in its consolidated net profit to Rs 326.5 crore for the December 2020 quarter, and said its deal pipeline continues to be healthy and strong.

The Bengaluru-based company had posted a net profit of Rs 197 crore in the year-ago period. Its revenue grew 3 per cent to Rs 2,023.7 crore in the quarter under review, from Rs 1,965.3 crore in the year-ago period.