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Tech Mahindra reports 12 percent rise in profit for Q1

Shares of IT services firm Tech Mahindra today surged 4 percent after the company reported 12.4 percent rise in consolidated net profit for the first quarter ended June 2018.


PTI Last Updated at 31 Jul 2018, 16:07 IST India

Shares of IT services firm Tech Mahindra today surged 4 percent after the company reported 12.4 percent rise in consolidated net profit for the first quarter ended June 2018.

The company's scrip gained 3.93 percent to close at Rs 680.30 on the BSE. Intra-day, it jumped 4.52 percent to Rs 684.20.

On the NSE, shares of the company rose by 3.74 percent to end at Rs 680.

On the equity volume side, 5.73 lakh shares of the company were traded on the BSE and over 96 lakh shares changed hands on the NSE during the day.

Tech Mahindra yesterday reported 12.4 percent rise in consolidated net profit at Rs 897.9 crore for the first quarter ended June 2018.

The firm had registered a net profit of Rs 798.6 crore in the corresponding quarter of the last fiscal, Tech Mahindra said in a statement.

The consolidated revenue stood at Rs 8,276.3 crore in the quarter under review, up 12.8 percent from Rs 7,336.1 crore in the year-ago period, as per Indian Accounting Standards.

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


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