Cheering the smart set of results, shares of the IT firm started the trade on a positive note and rose by 6.65 percent to Rs 1,685.40 - its one-year high on the BSE. (Agencies)
At the NSE, the stock surged 6.67 percent to its 52-week high of Rs 1,685.90.
Tech Mahindra reported its Q2 FY14 results which surprised positively on the revenue front and came in line with the expectations on the operating margin as well as on the bottomline front," said Ankita Somani, Research Analyst– IT, Angel Broking.
The company had reported its results after market hours on Thursday.
Tech Mahindra had yesterday reported a 57.6 percent jump in consolidated net profit at Rs 718.4 crore in the three months to September, boosted by higher demand for outsourcing services from across the geographies and verticals.
Consolidated revenue rose 35.4 percent to Rs 4,771.5 crore in the second quarter, while on a sequential basis, it grew 16.3 percent to Rs 4,103.2 crore from Q1.
In dollar terms, net profit stood at USD 114 million, up 36.4 percent year-on-year, while revenue stood at USD 758 million, a growth of 17.6 percent Y-o-Y.
The fifth largest software exporter's operating profit in the quarter stood at Rs 1,111 crore, a 46.8 percent jump from Rs 756.9 crore in the year-ago period.
Cheering the smart set of results, shares of the IT firm started the trade on a positive note and rose by 6.65 percent to Rs 1,685.40 - its one-year high on the BSE.