At Rs 472 crore, Mindtree Q1 profit falls marginally

Mindtree, a subsidiary of Larsen & Toubro (L&T), has posted a 0.3% fall in net profit at Rs 471.6 crore for the first quarter ended June, compared with Rs 473.1 crore recorded during the previous quarter. On a year-on-year basis, the company’s net profit rose 37.3% from Rs 343.4 crore posted during the same quarter a year ago. However, its fourth quarter earnings beat Bloomberg analysts’ consensus estimate, which was expecting the firm to post a net profit of Rs 461.5 crore.