Shares of software exporter Tech Mahindra today soared 7 per cent following an over three-fold jump in net profit to Rs 302.5 crore for the fourth quarter ended March 31, 2012.
Cheering the smart results, the scrip surged 7 per cent to Rs 655 on the BSE. Similarly on the NSE, the scrip gained 7 per cent to Rs 654.80.
In terms of volume, 1.56 lakh shares of the company changed hands on the BSE, while over 5 lakh shares were traded on the NSE.
Tech Mahindra had yesterday posted a more than three-fold growth in net profit to Rs 302.5 crore for the January-March quarter, although it expressed caution at the economic distress in Europe.
The company’s net profit stood at Rs 92.1 crore in the year-ago period. Its revenues grew 12.48 per cent in Q4 FY’12 to Rs 1,419 crore from Rs 1,261.5 crore in the same period last year.