Trending Mid Cap Stock: Mindtree Management optimistic about FY18 performance
DSIJ Intelligence / 19 Jul 2017
Quarterly financial results of Mindtree Ltd. are scheduled to be announced today.
Quarterly financial results of Mindtree Ltd. are scheduled to be announced today. The Board of Directors meeting will be held today to consider audited financial results of the company of first quarter of FY18.
FY17 was comparatively a weak year for the company. Revenue had shown growth of 9.5 percent on YoY basis but in constant currency terms the revenue grew by ~11 percent as against 26 percent in FY16. Net profit had declined by 15.8 percent YoY in FY17.
Management is however optimistic about the revenue growth and margins of the company for the upcoming FY18.
It expects revenue growth to be in low double digits and margins may improve as compared to FY17 performance.
Domestic currency appreciation and visa related issues might affect the margins in the first quarter.
As per the CNBC analysts, revenue is expected to increase by 0.9 percent and the profits may increase by ~10 percent. Dollar revenue growth is expected to be at 4 percent.
Company's stock price closed yesterday at Rs 508.50. Today in the morning session it has touched Rs 519, showing an upside of 2.06 percent from its previous closing price.
Mindtree Ltd is an international information technology consulting and implementation company that provides business solutions through global software development.
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