Tech Mahindra shares hit 52-week high

Tech Mahindra on Thursday reported 42.91 per cent growth in June quarter consolidated net profit at Rs 1,365.7 crore on higher revenue and an expansion in profit margins. Profit in the year-ago period stood at Rs 955.6 crore.

Shares of Tech Mahindra on Friday zoomed nearly 10 per cent after the company reported 42.91 per cent growth in the June quarter consolidated net profit. The stock jumped 9.68 per cent to hit a 52-week high of Rs 1,237 on BSE and NSE.
Tech Mahindra on Thursday reported 42.91 per cent growth in June quarter consolidated net profit at Rs 1,365.7 crore on higher revenue and an expansion in profit margins. Profit in the year-ago period stood at Rs 955.6 crore.

“The company, whose total income in the quarter improved 7 per cent month-on-month to Rs 10,485 crore, is confident of either maintaining or exceeding the growth during the remaining fiscal,” Managing Director and CEO C P Gurnani told reporters.

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