Mindtree plunges despite announcing partnership with Databricks

Indian multinational information technology & outsourcing company, Mindtree today announced that it has partnered with Databricks to help customers implement cloud-based data platforms for advanced analytics.

Databricks will support the use of its platform services from implementation throughout the entire customer journey. This collaboration would enable the seamless implementation of self-service analytics to improve data-driven decision making.

The company reported a net profit of Rs 253.7 crore in Q2FY21, which rose by 87.9 per cent, as compared to Q2FY20 when it had reported a profit of Rs 135 crore. The company reported a revenue of Rs 1,926 crore for Q2FY21, an increase of 0.6 per cent against the net sales of Q2FY20.

Mindtree is a leading digital transformation and technology services company, helping enterprises to achieve competitive advantage. It applies deep domain knowledge to 280+ enterprise client engagements to break down silos, make sense of digital complexity, and bring new initiatives to market faster. It is operating in more than 15 countries across the world.

Databricks, the data & AI company, offers a solution for data engineering, collaborative data science, full-lifecycle machine learning, and business analytics.

The share price of the company closed at Rs 1,411.70 down by 0.41 per cent per share on BSE.