Business Standard

Tech Mahindra shares jump over 7% after Q1 earnings

Image

Press Trust of India New Delhi
Shares of IT firm Tech Mahindra today surged over 7 per cent after the company reported a 6.5 per cent rise in net profit for the quarter ended June.

The scrip after making a positive opening further gained 7.43 per cent to Rs 413.90 on the BSE. On the NSE, it surged 7.26 per cent to Rs 413.90.

Tech Mahindra yesterday reported a 6.5 per cent growth in net profit at Rs 798.6 crore for April-June.

This is against a net profit of Rs 749.3 crore in the year-ago period, Tech Mahindra said in a statement.

Revenues of the fifth-largest software exporter grew 6 per cent to Rs 7,336.1 crore in the reported quarter as against Rs 6,920.9 crore in the same period last year.
 

In dollar terms, the company's net profit was up 11.2 per cent at USD 123.8 million while revenues grew 10.3 per cent to USD 1.13 billion in April-June 2017, from the year-ago period.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 01 2017 | 12:57 PM IST

Explore News