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Mindtree Q4 beats estimates, 1:1 bonus share announced

IT services company Mindtree reported better-than-expected fourth quarterly numbers and also announced a 1:1 bonus issue.
This means a Mindtree shareholder will get one bonus share for every one equity share held, subject to shareholder approval.
Mindtree reported a net profit of Rs. 98.2 crore in the quarter ended March 31, 2014, vs analyst expectations of Rs. 87.1 crore. This is an 11 per cent sequential growth from its December quarter and 24.5 per cent rise from the same quarter a year earlier.

It reported revenue of Rs. 823.7 crore in the March quarter, a 4.2 per cent rise sequentially and 34.5 per cent rise year-on-year.

During the year, Mindtree crossed the half a billion dollars in revenue. For 2013-14, it reported revenues of $501 million, a growth of 15 per cent.

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