Tech Mahindra share price jumps 10% after Q4 results: Should you buy?

Tech Mahindra share price: This comes after the company's CEO and MD Mohit Joshi detailed a three-year roadmap to turn around the company.

Updated on: Apr 26, 2024, 11:58:35 IST

By HT News Desk

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Tech Mahindra share price: Shares of Tech Mahindra hit 10 per cent upper limit at ₹1,309.30 today (April 26). This comes after the company's CEO and MD Mohit Joshi detailed a three-year roadmap to turn around the company and said that the plan aims to improve revenue growth than peer average and optimising margin improvement by FY27.

Tech Mahindra share price: Tech Mahindra logo is seen on its office building in Noida on the outskirts of New Delhi, India. (Reuters)

In this month, Tech Mahindra shares have gained over 7 per cent so far.

Tech Mahindra Q4 results

The company released its financial results for Q4 FY24 and the full fiscal year FY24 on Thursday. In Q4 FY24, Tech Mahindra's consolidated net profit fell nearly 41% to ₹661 crore. The company's revenue declined by 6.2% year-on-year to ₹12,871 crore while for the full FY24, the consolidated net profit saw a sharp decline of 51.2% year-on-year to ₹2,358 crore.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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Tech Mahindra share price jumps 10% after Q4 results: Should you buy?

Tech Mahindra share price: This comes after the company's CEO and MD Mohit Joshi detailed a three-year roadmap to turn around the company.

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Tech Mahindra Q4 results