Tech Mahindra gains 2% after Q3 numbers

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Tech Mahindra gains 2% after Q3 numbers
Tech Mahindra: Quotes, News
BSE 457.65BSE Quote2.6 (0.57%)
NSE 458.40NSE Quote1.85 (0.40%)
Shares of the Tech Mahindra rose more than 2% on Thursday after the company posted third quarter results on Wednesday after market hours.

However, the results missed the analysts estimates. The company's consolidated net profit dropped 6.91% to Rs 275.80 crore on 10% growth in revenue to Rs 1791 crore in Q3 against Q2 September 2012. Profit After Tax (PAT) before share of Associate at INR 242 crore up 67% YoY and 36% QoQ

Commenting on the third quarter results, Vineet Nayyar, Executive Vice Chairman of Tech Mahindra said: Our growth trajectory continues. Tech Mahindra has been consistently performing with key wins and partnerships, supplemented by non organic initiatives. As we look forward we continue to see opportunities to help our customers in their strategic objectives, through innovative solutions.

Earnings per Share (basic EPS) stood at Rs 21.6 for the quarter ended December 31st, 2012

Shares of the company was seen trading at Rs 999, higher by Rs 20 or 2.05% on BSE at 10.20 am IST. It touched an intra-day high of Rs 1005.

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