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Tech Mahindra shares gain over 8% after Q3 earnings

Press Trust of India  |  New Delhi 

Shares of Tech Mahindra surged over 8 per cent Wednesday after the IT company reported a 27.5 per cent jump in December quarter profit.

Shares jumped 8.13 per cent to close at Rs 811 on the BSE. Intra-day, it advanced 8.53 per cent to Rs 814 -- its 52-week high.

At the National Stock Exchange (NSE), shares zoomed 8.12 per cent to close at Rs 812 apiece.

On the traded volume front, 7.36 lakh shares changed hands on the BSE and over 1 crore shares on the NSE during the day.

The company's market valuation jumped Rs 5,995.18 crore to Rs 79,588.18 crore on the BSE.

The company Tuesday reported a 27.5 per cent jump in net profit to Rs 1,203 crore in the third quarter, driven by automation measures which widened the profit margins.

Overall revenue increased 15 per cent to Rs 8,944 crore during the quarter.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 06 2019. 17:25 IST