Mumbai: Shares of IT firm, MindTree, soared over 12 percent, defying a sluggish stock market, as the company posted over two-fold increase in net profit for Q4 ended March 31. After robust opening, the company's shares gained further and rose 12 percent to touch one-year high of 547.50 on the BSE. At the NSE, the stock surged 12.12 percent to 52-week high of 547.95. MindTree posted over two-fold increase in Q4 net profit at 68.9 crore, driven by strong growth in software services. It had posted a net profit of 32 crore in the year-ago period. The income from software services increased over 34 percent to 525.7 crore during Q4, from 391.2 crore in the same quarter of FY-2010-11. Rally in the stock outperformed the sluggish stock market, where the BSE benchmark Sensex was trading at 17,173.81, up 22.86 points at 10:35 hours.