Mindtree, a global information
technology solutions company, plunged on Wednesday after it posted
weak Q2 earnings.
The company reported a decline of 18.9% in net profit to Rs 722 million for the quarter ended Sept. 30, 2012 as compared to Rs 890 million in the year ago period.
The profit was lower due to foreign exchange loss of Rs 415 million in the quarter as against gain of Rs 81 million in previous quarter.
Total income rose by 5.9% to Rs 5,963
million and dollar revenue increased 1.7% to USD 107.3 million
during the same period.Shares of MindTree are trading at Rs 636.05,
down Rs 40.7, or 6.01% at the Bombay Stock Exchange (BSE) on
Wednesday at 9:37 a.m.The scrip has touched an intra-day high of Rs
678 and low of Rs 635. The total volume of shares traded at the BSE
is 70,624.In the earlier session, the shares declined 0.52%, or Rs
3.55, at Rs 676.75. Currently, the stock is trading down 16.52%
from its 52-week high of Rs 761.95 and above 71.12% over the
52-week low of Rs 371.70.
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