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Mindtree shares end higher as company expands partnership with EPOS

Shares of Mindtree are down nearly 30 percent this year.

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By CNBCTV18.com Oct 18, 2022 4:38:07 PM IST (Published)

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Mindtree shares end higher as company expands partnership with EPOS

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Mindtree Ltd, announced the extension of its partnership with premium audio and video solutions brand EPOS to develop next-generation audio products, technologies, and experiences.


Shares of Mindtree rose as much as 2.5 percent to Rs 3,413.05 apiece on the BSE in intra-day trade on Tuesday.

As part of the multiyear engagement, Mindtree said it would work as an integrated part of EPOS’ development organisation and take part in strengthening its product innovation, time-to-market, and customer satisfaction, especially in EPOS’ high-growth enterprise audio and video segment.

“Mindtree will provide a broad range of competencies and knowledge within the development, maintenance, and quality assurance services to support and innovate all product categories of EPOS within the segments of Enterprise Solutions and Gaming,” it said in a press release.

Commenting on the partnership, EPOS President Jeppe Dalberg-Larsen said, “This collaboration is important for EPOS to ensure and further develop our portfolio of best-in-class solutions and technologies.”

For the July-September quarter, Mindtree reported a 7.9 percent sequential increase in net profit to Rs 508.7 crore, much ahead of street estimates. Analysts in a CNBC-TV18 poll had estimated the IT firm's quarterly net profit at Rs 482.6 crore
Mindtree's EBIT margin — a key measure of profitability — slipped by seven basis points on a quarter-on-quarter basis to 19.13 percent. Analysts polled by CNBC-TV18 had estimated the margin to be at 18.2 percent.
The company also said post its September quarter results that it may be the last quarter for them as a Standalone company as it is close to securing all necessary approvals for the merger with L&T Infotech.

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