Tech Mahindra shares jump over 10%; Mcap rises by Rs 4,909 cr

Shares of software exporter Tech Mahindra today surged over 10 per cent, adding Rs 4,908.64 crore to its market valuation, after the company reported 90 per cent jump in profit for the March quarter.
The stock zoomed 10.29 per cent to settle at Rs 528.55 on BSE. During the day, it jumped 14.34 per cent to Rs 548.
At NSE, shares of the company surged 10 per cent to close at Rs 528.50.
Consequently, the company's market valuation rose by Rs 4,908.64 crore to Rs 51,290.64 crore.
In terms of volume, 9.40 lakh shares of the company changed hands at BSE and over one crore shares were traded at NSE during the day.

Tech Mahindra yesterday reported a 90 per cent jump in post-tax profit for the three months to March at Rs 897 crore on wider margins from an expanded revenue base, forex gains and lower tax payout.

The company had posted a net profit of Rs 472 crore in the corresponding quarter in the previous fiscal.
While its total revenues grew to Rs 6,883 crore from Rs 6,116 crore a year ago, its pre-tax profit margin expanded to 17 per cent from 15.4 per cent, lifting the bottom-line for the reporting period.
For the full year ending March, the company's net income rose 18.7 per cent to Rs 3,118 crore, while revenue was up 17.1 per cent to Rs 26,494 crore.