One of the largest IT companies in India, Tech Mahindra disclosed a 19.3 per cent drop in consolidated profit at Rs 643 crore for the quarter ending September 30, 2016 as compared with Rs 796.5 crore reported for the June quarter.
Revenue for the quarter increased 3.6 per cent Y-o-Y to Rs 7,167.40 crore against Rs 6,921 crore reported for the June quarter. Ebitda for the quarter is seen at Rs 1,070.1 crore, which was higher than Rs 1,029 crore reported for the first quarter of FY17. Margins extended by 5 basis points to 14.93 per cent from 14.87 per cent.
Active client count is at 825 at the end of September quarter. The company registered 5 per cent revenue growth on a Q-o-Q basis in constant currency terms. During the quarter, growth was driven by the key communication & enterprises business, Tech Mahindra said.
On 27th Oct, Tech Mahindra share price settled below 2 per cent at Rs. 414.10. The stock opened at Rs. 423 against its previous closing at Rs. 423.05. During the second half of the trading session, the stock was seen to quote at Rs. 417.75, touched the days high and low at Rs. 426.55 and Rs.412.65.
Tech Mahindra share price touched its 52 week high value at Rs. 568.50 on 4th Nov ’15 while the 52 week low is seen at Rs. 405.50 on 17th Oct ’16. . The market cap of the company amounts to Rs. 41122.33 (Cr) and has a book value of Rs. 147.82.
Tech Mahindra is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE. Tech Mahindra is fundamentally strong and is safe for investment, as per Dynamic analysts.
In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Tech Mahindra share price history.
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