Mindtree Q4 Profit Rises 9pc, Offer Special Dividends, Stock Up

The MindTree Limited, Software Company reported 18% year on year profit growth and crossed one-billion-US-Dollar in annual revenue. The MindTree board has recommended a special dividend of Rs.20 per share.

Previously, MindTree approved an interim dividend of 30%, that is, Rs.3pc equity share of the face value of Rs.10 for which the record date was determined as 27-April.

In addition, the company has recommended a final dividend of 40% i.e, Rs.4/- per share and a special dividend of 200%, Rs.20 per equity share to celebrate the milestone of exceeding USD1 billion, in annual revenue in FY19.

Meantime, the company reported fourth quarter results of FY19 recording a revenue growth of 2.9% on quarter on quarter basis and 25.6% on Year on year basis. Its profit for Q4 was at Rs.1,984-mln, a growth of 8.9% on Year-on-year basis

On Thursday during first afternoon hours of trade, the stock of Mindtree traded at Rs. 982 per share, up by Rs9/- or 1percnet per cent on NSE.