Tech Mahindra (CMP=Rs 445.05)net profit rose 16.36% to Rs 295.98 crore in Q2 September 2008 over Q1 June 2008.
The stock had a 52-week high of Rs 1305 on 22 October 2007 and a 52-week low of Rs 336.05 on 17 October 2008.
From a recent low of Rs 344.95 on 17 October 2008, the stock rose 19.75% in two consecutive trading sessions to Rs 413.10 21 October 2008, ahead of the results.
The mid-cap telecom software maker has an equity capital of Rs 121.70 crore. Face value per share is Rs 10.
The current price of Rs 445.05 discounts its Q2 September 2008 annualised EPS of Rs 97.28, by a PE multiple of 4.57.
The jump in profit was partly aided by a tax refund of Rs 60 crore from the UK government. The company’s net sales rose 3.75% to Rs 1142.04 in Q2 September 2008 over Q1 June 2008.
Tech Mahindra provides IT services and solutions to the telecom sector. It provides a variety of services ranging from IT strategy and consulting to system integration, design, application development, implementation, maintenance and product engineering.
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