Tech Mahindra shares end 4 pc higher on robust earnings

Shares of Tech Mahindra today ended nearly 4 per cent higher after the company posted an over three-fold jump in consolidated profit in December quarter.
After surging 4.49 per cent to Rs 1,849 in intra-day trade, the IT firm's shares finally ended at Rs 1,838.25 apiece, up 3.89 per cent from their previous close on the BSE.
At the NSE, the stock climbed 3.79 per cent to settle at Rs 1,838 apiece.
"Tech Mahindra reported its Q3 FY'14 results which surprised positively on the revenue front while it came in-line with the expectations on the operating margin," said Ankita Somani, Research Analyst - IT, Angel Broking.

Tech Mahindra yesterday posted an over three-fold jump in consolidated net profit at Rs 1,009.8 crore in the quarter ended December. Growth in telecom, financial and manufacturing sectors helped the company.
It had posted Rs 321.5 crore profit in the year-ago period.
Consolidated revenue grew 33.5 per cent to Rs 4,898.5 crore for the reported quarter from Rs 3,668.3 crore in the year-ago period.
In dollars terms, revenue grew 17.2 per cent year-on-year to USD 791 million, while net profit was 175.7 per cent higher at USD 163.1 million.