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MindTree net surges; FY10 outlook raised

MindTree net surges; FY10 outlook raised
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First Published: Tue, Jan 19 2010. 09 14 PM IST
Updated: Tue, Jan 19 2010. 09 14 PM IST
Mumbai: IT firm MindTree Ltd raised its earnings forecast for the fiscal as it sees a “low revival” in the global economy and posted a forecast beating quarterly net profit growth on Tuesday.
The firm now sees after-tax profit of $40.5-41.25 million (Rs184.68-188 crore) and per- share earnings of Rs48.60- 49.50, on revenue of $269.5- 270.5 million (at an exchange rate of Rs47.41 a dollar.
Earlier in July, MindTree had lowered its full-year guidance to $30.4-36.8 million profit, or Rs37.40-45.30 per-share earnings, on revenue of $255-270 million, citing uncertain market conditions.
“We have begun to see a slow revival in the global economy, which we hope will sustain itself and grow over the next few quarters,” managing director and chief executive Krishnakumar Natarajan said in a note.
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First Published: Tue, Jan 19 2010. 09 14 PM IST