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Tech Mahindra rallies as Q4FY16 profit beats street

Discussion in 'Stock Market Discussions' started by capitalstars05, May 25, 2016.

  1. capitalstars05

    capitalstars05 New Member

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    Shares of Tech Mahindra rallied 11% to Rs532 on NSE post Q4FY16 results led by in line performance, profit beat led by forex gain and lower tax rate.
    Revenues for the quarter was up by 1.3% QoQ on CC term and 0.8% on a reported basis to $1,022.6 mn (in line with expectations).
    The growth was led by enterprise side of business especially BFSI vertical, which was higher by 8.7% qoq on CC basis, while Telecom growth remain muted on sequential basis.

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