MindTree Ltd shares traded lower on Thursday, down almost 2 percent from the day's high, ahead of the IT company's third quarter results later in the day. MindTree stock price quoted at Rs 4,612.25 apiece on NSE, down half a percent on NSE at 11.12 am. The stock opened at Rs 4,650 and touched the day's high at Rs 4,728.90. The day's low came in at Rs 4,581.

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The midcap IT major is expected to report a dollar revenue growth of 5.1 percent and constant currency growth of 5.5 percent on quarter-on-quarter basis, as per a CNBC-TV18 poll. The company is expected to post a net profit of Rs 430 crore in the third quarter, as per the poll, while revenues are likely to come in at Rs 2,760 crore.

#3QWithCNBCTV18 | @Mindtree_Ltd is expected to report $ revenue growth of 5.1% & constant currency growth of 5.5% QoQ. Any pick-up in deal wins will boost confidence. Street expects strong hiring numbers pic.twitter.com/pObIsdZAV1

— CNBC-TV18 (@CNBCTV18Live) January 13, 2022

The street also expects strong hiring numbers and any pick up in deal wins will boost confidence, the CNBC-TV18 report said.

MindTree had posted a net profit of Rs 399 crore for the quarter ended September 30. The net profit saw a sequential rise of 16.2 percent from the net profit of Rs 343.4 crore in the previous quarter. The revenue in dollar terms grew 12.8 percent sequentially to $350.1 million for Q2FY22 and 13.4 percent in constant currency terms.

Meanwhile, three other IT firms — Tata Consultancy Services (TCS), Wipro and Infosys — reported their third quarter results on Wednesday, kickstarting the earnings season.

After market hours on Wednesday, TCS reported a 43 percent sequential increase in revenue to Rs 48,885 crore for the December quarter, exceeding Street expectations. Its net profit of Rs 9,769 crore, up 1.5 percent on a quarter-on-quarter basis, however, missed analysts' estimates.

The TCS stock rose as much as 2.3 percent to Rs 3,944.4 apiece, coming within one percent of a 52-week high, touched in October 2021.

Infosys shares rose as much as 2 percent as the IT company delivered a better-than-expected earnings performance in Q3 of FY22 and raised guidance.

Shares of Wipro Ltd fell over 5 percent during opening trade on Thursday on the BSE after the IT services major reported a 1.3 percent year-on-year (YoY) drop in net profit at Rs 2,970 crore for the third quarter ended December 31, 2021.

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(Edited by : Ajay Vaishnav)