Mindtree surges 6%

Mindtree posted a good show for Q3FY21 with dollar revenue showing a 5% (QoQ)growth at $274 million and consolidated revenue rising 5% at Rs.2024 crore.

Its net profit for the quarter came in at Rs.326 crore, up 29%.

Its EBIT rose 19% at Rs.396 crore and margin came in at an impressive 23.2%

Its active clients list dipped to 272 v/s 283 in Q2 and 320 in Q3FY20.

The company said that this third quarter was by far the best performing in recent years backed by broad-based revenue growth of 5.0% across all verticals and service lines, robust margin expansion of 350bps, and a healthy order book of $312 million.

Its total employee strength stands at 22,195 with utilization at 83.1%.

Its free cash flow and cash & investments stands at Rs.3103 crore.

The stock opened over 2.5% higher today morning at Rs.1703, rising up to hit an intraday high at Rs.1759.70, up 6%. Its 52-week high is at Rs.1780.