Tech Mahindra slips after Q4 results

Tech Mahindra fell 3.77% to Rs 676 at 10:07 IST on BSE after consolidated net profit rose 33.15% to Rs 1230.80 crore on 3.58% rise in net sales to Rs 8054.50 crore in Q4 March 2018 over Q3 December 2017.

The result was announced after market hours on Friday, 25 May 2018.

Meanwhile, the S&P BSE Sensex was up 185.66 points, or 0.53% to 35,110.53.

On the BSE, 2.81 lakh shares were traded in the counter so far compared with average daily volumes of 92,000 shares in the past two weeks. The stock had hit a high of Rs 722 and a low of Rs 668.15 so far during the day. The stock hit a 52-week high of Rs 729 on 23 April 2018. The stock hit a 52-week low of Rs 357.60 on 29 May 2017.

 

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 11.7% to Rs 1412 crore in Q4 March 2018 over Q3 December 2017.

The software services exporter saw a rise of 8.3% in the number of active clients, and strong growth in deal wins in the $5 million and $10 million client categories.

Tech Mahindra represents the connected world, offering innovative and customer-centric information technology services and solutions.

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