Tech Mahindra’s shares jumped 4% during the intraday session to reach a 52-week high of Rs 1,761.30. The business announced a 153.1% YoY increase in sales to Rs 1,250 crore for the second quarter, while revenue increased by 3.5% YoY to Rs 13,313 crore.
Profit and revenue increased sequentially by 46.81% and 2.36%, respectively. The Mahindra Group company announced the quarterly results along with the declaration of an interim dividend of Rs 15 per equity share and the fixing of November 1 as the record date for determining shareholder eligibility.
Tech Mahindra Q2 Results
Tech Mahindra reported on Saturday that its September quarter profit increased by 153.1% year over year to Rs 1,250 crore. Over the same time period, the IT company’s revenue increased by 3.5% to Rs 13,313 crore. The company’s profit increased 46.81% from quarter to quarter on the back of a 2.36% increase in revenue.
The profit after tax (PAT) margin of the company rose to 9.4%, indicating a growth of 280 basis points (bps) in the previous quarter and a 560 bps increase in the previous year. During the quarter, the total contract value (TCV) resulting from new deal wins was $603 million.
Interim Dividend Announcement
Tech Mahindra declared an interim dividend of ₹15 per equity share along with its quarterly earnings. November 1 has been designated as the record date for determining a shareholder’s eligibility for the dividend.
Tech Mahindra Stock Performance
Throughout a range of time periods, Tech Mahindra shares have produced good returns. The stock has returned positively during the past month by 5.74%, suggesting short-term growth. The stock’s tenacity and upward momentum have been demonstrated by its even more spectacular performance over the last six months, which includes a significant increase of 41.33%.
Tech Mahindra’s stock has increased 32.56% so far this year, highlighting the company’s promising trajectory. When comparing the stock to the previous year, it has increased significantly, topping 43%.
