Software services exporter Mindtree reported slightly better-than-expected profit growth in its first quarter earnings and said it expects to match NASSCOM's full year industry growth guidance of 11-14%, despite challenging environment.
The Bangalore-based company's net profit for April-June more than doubled year-on-year (29% quarter-on-quarter) to Rs 89 crore. Quarterly revenue, however rose a little lower-than-expected 36% (7% sequentially) to Rs 563 crore.
Analysts on average had expected MindTree to report a net profit of Rs 84 crore on revenue of Rs 573 crore.
MindTree's net profit in US dollar terms rose 116% (21% quarter-on-quarter) to USD 16.7 million, while revenue rose 14% (0.4% sequentially) to USD 105.5 million. more details here
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