Tech Mahindra jumps after good Q1 results

Tech Mahindra rose 6.29% to Rs 409.50 at 9:53 IST on BSE after consolidated net profit rose 34.27% to Rs 791.79 crore on 0.17% growth in total income to Rs 7746.79 crore in Q1 June 2017 over Q4 March 2017.

The result was announced after market hours yesterday, 31 July 2017.

Meanwhile, the S&P BSE Sensex was up 24.24 points, or 0.07% to 32,539.18.

On the BSE, 3.85 lakh shares were traded in the counter so far, compared with average daily volumes of 3.69 lakh shares in the past one quarter. The stock had hit a high of Rs 413.90 and a low of Rs 401.30 so far during the day. The stock hit a 52-week high of Rs 515.30 on 21 February 2017. The stock hit a 52-week low of Rs 357.60 on 29 May 2017.

The stock had underperformed the market over the past one month till 31 July 2017, rising 1.02% compared with 5.15% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7.83% as against Sensex's 8.67% rise. The scrip had also underperformed the market in past one year, falling 21.33% as against Sensex's 16.11% rise.

The large-cap company has equity capital of Rs 487.85 crore. Face value per share is Rs 5.

Tech Mahindra's consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 12.7% to Rs 935 crore in Q1 June 2017 over Q4 March 2017.

Tech Mahindra is a specialist in digital transformation, consulting and business re-engineering solutions.

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