Tech Mahindra shares surge by 7 per cent post Q1 earnings

New Delhi: Shares of IT firm Tech Mahindra on Tuesday surged over 7 per cent after the company reported a 6.5 per cent rise in net profit for the quarter ended June.

The scrip after making a positive opening further gained 7.43 per cent to Rs 413.90 on the BSE. On the NSE, it surged 7.26 per cent to Rs 413.90.

Tech Mahindra on Monday posted a 6.5 per cent growth in net profit at Rs 798.6 crore for April-June.

This is against a net profit of Rs 749.3 crore in the year-ago period, Tech Mahindra said in a statement.

Revenues of the fifth-largest software exporter grew 6 per cent to Rs 7,336.1 crore in the reported quarter as against Rs 6,920.9 crore in the same period last year.

In dollar terms, the company's net profit was up 11.2 per cent at USD 123.8 million while revenues grew 10.3 per cent to USD 1.13 billion in April-June 2017, from the year-ago period.