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Tech Mahindra shares have rallied nearly 6 per cent after the IT company reported 1.35 per cent gain in net profit for the first quarter of the fiscal year 2021.
On the BSE, the Tech Mahindra stock surged 5.77 per cent to Rs702.40. And on the NSE, it gained 5.74 per cent to Rs702.75.
Tech Mahindra has recorded a 1.35 per cent rise in June quarter net profit at Rs972.3 crore amid the Covid-19 pandemic. Its revenue rose 5.23 per cent to Rs9,106 crore as compared with the year-ago period, but it fell 4 per cent sequentially. The country’s fifth-biggest software exporter has said it is aiming to emerge stronger by the end of the calendar year 2020.
“We are witnessing a wave of new-age technologies being adopted by the customers as businesses across the globe are actively pursuing digital transformation,” C.P.Gurnani, Managing Director and Chief Executive Officer, Tech Mahindra, said in a statement on Monday.
