Mindtree leaps 9% on better-than-expected Q4 earnings amid Covid-19 woes

Shares of Mindtree rallied 9 per cent to Rs 855 on the BSE on Monday in the early morning deals after the company posted 4.3 per cent quarter on quarter (QoQ) revenue growth at Rs 2,050 crore for the quarter ended March 2020 (Q4FY20). Besides, it posted a net profit of Rs 206.2 crore, a rise of 4.7 per cent sequentially.

The mid-tier IT firm reported revenues at $278.4 million, a 1.9 per cent rise in constant currency term over the previous quarter. Operating margin, meanwhile, improved 150 basis points sequentially to 17.1 per cent in Q4FY20. The company reported earnings before interest, taxes, depreciation, and amortization (Ebitda) margin expansion of 250 basis points QoQ, and record deal wins of $393 million during the quarter despite the Covid-19 disruption.