Mindtree, the company reported 7% quarter-on-quarter (QoQ) decline in consolidated net profit at Rs 124 crore for the quarter ended June 30, 2016. The Mindtree shares has hit 52 week low to Rs 572.

The mid-sized information technology (IT) services company had registered profit of Rs 133 crore in March quarter (Q4FY16) and Rs 128 crore in June 2015 quarter.

“While the global environment poses some short term challenges, we remain confident that our investments are on the right track to accelerate growth for our clients and Mindtree,” said Rostow Ravanan, CEO & Managing Director, Mindtree.