 "Tech Mahindra shares surge nearly 5% on robust earnings")
Cheering the smart set of earnings that were declared post market hours yesterday, shares of Tech Mahindra opened the day on a firm note and further gained 4.49% to Rs 1,849 on the BSE.
At the NSE, the stock jumped 4.46% to Rs 1,849.95.
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"Tech Mahindra reported its Q3 FY'14 results which surprised positively on the revenue front while it came in-line with the expectations on the operating margin," said Ankita Somani, Research Analyst - IT, Angel Broking.
Tech Mahindra yesterday posted an over three-fold jump in consolidated net profit to Rs 1,009.8 crore in the quarter ended December, on growth in telecom, financial and manufacturing sectors.
The company had posted a profit of Rs 321.5 crore in the same period last year.
Consolidated revenue grew 33.5% to Rs 4,898.5 crore for the reported quarter from Rs 3,668.3 crore in the year-ago period.
In dollars terms, revenue grew 17.2% year-on-year to $791 million, while net profit was 175.7% higher at $163.1 million.