Tech Mahindra rose 0.8 percent to Rs 475.50 on BSE after consolidated net profit rose 32.8 percent to Rs 856 crore on 5.4 percent growth in revenue to Rs 7,558 crore in Q3 December 2016 over Q2 September 2016.
The result was announced at the fag end of the trading session yesterday, 30 January 2017. The stock had risen 0.27 percent to Rs 466.75 ahead of the results yesterday, 30 January 2017.
Meanwhile, the S&P BSE Sensex was down 103.67 points or 0.37 percent at 27,745.89.
On the BSE, 48,738 shares were traded in the counter so far as against average daily volume of 2.39 lakh shares in the past one quarter. The stock had hit a high of Rs 485 and a low of Rs 465.80 so far during the day.
Tech Mahindra's consolidated profit after tax rose 30.8 percent to $126.3 million on 4.1 percent growth in revenue at $1116.1 million in Q3 December 2016 over Q2 September 2016. EBITDA rose 9.2 percent to $175 million in Q3 December 2016 over Q2 September 2016. Cash and cash equivalent stood at Rs 4951 crore as of 31 December 2016.
Vineet Nayyar, Vice Chairman, Tech Mahindra said that the strong deal wins and business momentum during the quarter reaffirm that the company is on the right track to capitalize on the opportunities from the global digital transformation, and see measurable benefits from that.
Tech Mahindra is a specialist in digital transformation, consulting and business re-engineering solutions.
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