NEW DELHI: Shares of IT services firm Tech Mahindra today surged 4 per cent after the company reported 12.4 per cent rise in consolidated net profit for the first quarter ended June 2018.
The company's scrip gained 3.93 per cent to close at Rs 680.30 on the BSE. Intra-day, it jumped 4.52 per cent to Rs 684.20.
On the NSE, shares of the company rose by 3.74 per cent 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 per cent 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 per cent from Rs 7,336.1 crore in the year-ago period, as per Indian Accounting Standards.