The founders of Mindtree are reportedly planning to sell their stake in the IT services firm. Last year, Larsen & Toubro had acquired a majority control over the Bangalore-based company and it currently holds over 61 per cent.

A CNBC TV 18 report said that the founders, who hold over 10 per cent, are examining various options to exit and that L&T is unlikely to purchase their stake.

While L&T had come out with an open offer for Mindtree shareholders last year, the founders had not tendered their shares in the offer. Shares of Mindtree on Wednesday closed at Rs 975.75 — a fall of Rs 2.20, or 0.22 per cent, over the last close.

Mindtree saw its consolidated net profit more than doubling to Rs 213 crore in the April-June quarter from the same period last year.

Announcing the first quarter numbers on Tuesday, the company had said it is seeing a recovery that would help it log a better performance in the second quarter of the current year. Net profit rose 129.8 per cent from Rs 92.7 crore in the same period last year. Its revenue grew 4.1 per cent to Rs 1,908.8 crore from Rs 1,834.2 crore a year ago.

Mindtree CEO and managing director Debashis Chatterjee said: “If one were to look at the first quarter last year, there was a one-off hit because of the special bonuses that were paid off and this was one of the reasons behind the rise this quarter.”