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Shares of Tech Mahindra shares gained over 3 per cent and hit a 52-week high on the BSE at ₹1,761.30 after opening ₹1,749.95. The surge followed strong Q2 FY25 earnings that showed a 153.1 percent year-on-year consolidated net profit growth.
The company reported a robust performance for the quarter ended September, with consolidated net profit surging nearly 47 percent quarter-on-quarter to ₹1,250 crore.
Revenue from operations grew by 2.4 percent quarter-on-quarter to ₹13,313 crore. Tech Mahindra has declared an interim dividend of ₹15 per equity share.
The company has set November 1, 2024, as the record date to receive for the interim dividend. Shareholders whose names appear in the company’s records on that date will receive the dividend on or before November 17, 2024.
“We continue to make progress on our strategic improvement efforts, even as the overall IT services industry remains soft,” said Chief Executive Officer Mohit Joshi. “We observe weakness in the communication and manufacturing verticals, as discretionary spending continues to be conservative.”
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