Tech Mahindra Ltd shares rose 3.51 per cent on January 10, contributing to the positive momentum of the Nifty IT index, which was the only sector to gain in the overall Indian stock market today. It also marks the highest one-day gain for the stocks in a 21-week period.
Tech Mahindra Ltd is expected to announce its Q3 FY25 financial results after market close on January 17, 2025. The shares are currently trading at Rs 1,704.45, up 3.75 per cent at 12:11 pm on January 10.
In an exchange filing, Tech Mahindra informed that its board of directors will meet on Friday, January 17, 2025. The primary agenda of this meeting is to consider and approve the company’s financial results for the quarter ended December 31, 2024.
The earnings are expected to be announced after the market closes, i.e. after 3:30 pm. The Nifty IT index today recorded gains between 1 percent and 4 percent on an average, reflecting a marginal rise in investor sentiment.
However, the Indian stock market performance remains weak, impacted by weak global cues. Tech Mahindra had a stellar performance in the September quarter of FY25, with consolidated net profit rising 153.1 percent year-on-year (YoY) to Rs 1,250 crore. Revenue for the quarter grew 3.5 percent to Rs 13,313 crore.
On a sequential basis, the company also witnessed healthy growth, with profit and revenue growing 46.81 percent and 2.36 percent, respectively.
