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Tech Mahindra shares rise over 14% on stellar Q4

The company reported a 90% jump in post-tax profit for the three months to March at Rs 897 crore.

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Tech Mahindra shares zoom over 14% on robust earnings
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Shares of software exporter Tech Mahindra on Wednesday soared over 14% after the company reported a 90% jump in profit for the March quarter.

The stock jumped 14.34% to Rs 548 on the BSE. On the National Stock Exchange (NSE), shares of the country's fifth largest software exporter zoomed 10.77% to Rs 532.

At 1313 hours, the company stock was dealing at Rs 522, up Rs 42.75 or 8.92% on the BSE and at Rs 522, up Rs 41.75 or 8.69% on the National Stock Exchange (NSE). 

Tech Mahindra on Tuesday reported a 90% jump in post-tax profit for the three months to March at Rs 897 crore on wider margins from an expanded revenue base, forex gains and lower tax payout.

The company had posted a net profit of Rs 472 crore in the corresponding quarter in the previous fiscal.

While its total revenues grew to Rs 6,883 crore from Rs 6,116 crore a year ago, its pre-tax profit margin expanded to 17% from 15.4%, lifting the bottom-line for the reporting period.

For the full year ending March, the company's net income rose 18.7% to Rs 3,118 crore, while revenue was up 17.1% to Rs 26,494 crore. 

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