Mindtree shares gained on Thursday after brokerages turned bullish on the stock. Rostow Ravanan, MD and CEO of Mindtree, spoke to CNBC-TV18 about the growth in the IT sector and outlook.
“I am not sure if I would call Q2 disappointing from my perspective, maybe it was seen as disappointing from the stock market perspective when you compare over the previous quarter. Q1 was almost an 8 percent kind of constant currency growth on the backdrop of that 2 percent growth looks a little bit weaker and maybe that is what led to the perception but if you look at it from a year-on-year basis, Q2 was 19-20 percent kind of a growth over Q2 of last year. H1 this year was a 19-20 percent growth over H1 of last year. From our perspective, we don’t see Q2 as a disappointing quarter,” he said.
Talking about how Mindtree will fare compared to the sector, Ravanan said, “Mindtree will grow 14-15 percent this year compared to the industry as a whole, which is expected to grow 7-9 percent this year based on the most recent NASSCOM estimates,” he added.
“We are expecting growth in Q3 and Q4. We are not disappointed with our growth, we are quite pleased with our growth,” said Ravanan.
“From our point of view, we expect Q3 to also be a similar sort of growth compared to Q2,” he added.
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