Tech Mahindra Shares Jump 7.6% After Q2 Results
Tech Mahindra reported September-quarter results, with consolidated net profit growth outpacing revenue growth. Jefferies upgraded its rating, while Motilal Oswal reiterated its buy call.
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06:11:15 AM UTC
SquawkNews
Motilal Oswal's research report on Tech MahindraTech Mahindra (TECHM) reported 2QFY27 revenue of USD1.7b, up 2.4% QoQ in CC, above our estimate of 1.7% CC growth. Retail/Communication/Technology rose 9.6%/6.0%/2.8% QoQ, Others/Manufacturing declined 15.0%/3.9% QoQ (in USD terms). EBIT margin expand…
Tech Mahindra shares rose more than 7 per cent after the IT services company released its September-quarter results. Consolidated net profit growth exceeded revenue growth. Brokerages gave mixed assessments. Jefferies upgraded its rating, while Motilal Oswal maintained its buy call.