You are using an older browser version. Please use a supported version for the best MSN experience.

Mindtree Q4 profit plunges 27%, misses estimates

LiveMint logoLiveMint 20-04-2017 Samantha Kareen Nair

Bengaluru: Information technology company Mindtree Ltd said consolidated net profit fell 27% in the fourth quarter hurt by a foreign exchange loss and fewer client additions.

The lower-than-expected profit came in at Rs97.2 crore ($15.04 million) for the three months ended 31 March, marking the fourth consecutive quarterly profit decline.

Analysts on average were expecting consolidated profit at Rs105 crore, Thomson Reuters data showed.

Mindtree incurred a consolidated foreign exchange loss of Rs28.8 crore in the quarter, against a gain of Rs3.1 crore a year earlier. Clients added in the fourth quarter dropped 46% to 20. Reuters

More From LiveMint

image beaconimage beaconimage beacon