Mid-cap IT company Mindtree has presented its third quarter results. In the third quarter, the company showed 28.7 per cent growth in profitability on a quarter-on-quarter basis. The company’s profit reached Rs 326.5 crore in the third quarter. The company’s profits and strong order book in all its verticals have contributed significantly.
The third quarter result has been presented by the Mid-cap IT company Mindtree.The company profits 28.7 percent growth in the third quarter.in the third quarter the company reached by the profit amount 326.5 crore.the company profits goes to the strong order book of all contributors , and all worker of this company.
the growth of revenue of Mindtree IT company has been 5.1 percent on a quarterly basis. it has gone to the amount 2,023.7 crore.in this quarter the company’s revenue has increased by 5 percent in dollars.the third quarter of company revenue was $ 274.1 million.
Explain that the company’s results have been better than anticipated. According to CNBC TV-18, the company’s profit was estimated to be Rs 270.5 crore, while income was estimated to be Rs 2007 crore. Similarly, the company’s dollar earnings were estimated at $ 272 million.
8 new customers were added by the company ‘s portfolio during the third quarter. In december 2020 the total number of this company has 276, 8 new customers added by the company ‘s portfolio during the third quarter.
the quarterly results of MINDTREE, let us know what is the opinion of veteran brokerage houses.
GOLDMAN SACHS has given a purchase opinion on MINDTREE and its target is 1998 rupees.
MACQUARIE, while giving a neutral rating on MINDTREE, has set a target of Rs 1770.
Here MORGAN STANLEY has given an Equal Weight Rating opinion on this stock and has set a target of Rs 1645 for this stock.
Whereas in view of the results, KOTAK has given a sell opinion on this stock. KOTAK has set the target of this share at Rs 1410.
Know what management says on the results
The quarterly result of this company , the order book will be strong and growth rate in this quarter due to the company management system.The worst has been in the travel and hospitality sectors, but the dollar revenue growth in Q3 was the best performance of 1 decade. Growth is expected to continue in the next few quarters.