Tech Mahindra Shares Drop by Over 2% Post Results: Trading at ₹1,496, Company Reports ₹851 Crore Profit in First Quarter

Tech Mahindra’s shares fell by 2.20% to ₹1,496.40 on Friday following the announcement of its financial results for the first quarter of FY 2024-25. The company reported a net profit of ₹851 crore for the April-June quarter, marking a 23% year-on-year increase.

However, during this period, there was a decrease in the company’s operational revenue and total income. This decline is reflected in the reduction in its share value today. Tech Mahindra released its earnings figures for the April-June quarter yesterday, July 24.

Tech Mahindra Share Performance: Recent Trends

Tech Mahindra’s shares have increased by 14.20% over the past six months. Over the last year, the shares have provided a return of 31.30%. 

Since the beginning of this year, January 1, the shares have risen by 15.72%. The company’s market capitalization currently stands at ₹1.47 lakh crore.

Revenue Decrease for Tech Mahindra in Q1

In the first quarter, Tech Mahindra’s total revenue decreased by 1.50% year-on-year (YoY) to ₹13,150 crore, compared to ₹13,350 crore in the same quarter last year. Additionally, the company’s total revenue dropped by 0.70% on a quarterly basis.