Tech Mahindra Oct-Dec 2014 Quarterly Results -Declares Bonus Issue,Stock Split

 

Tech Mahindra's net profit jumped to Rs 805 crore in the quarter ending December 31, 2014, against Rs 720 crore in the previous quarter.
Revenues of the IT outsourcer rose 4.8 per cent sequentially to Rs 5,752 crore, against Rs 5,488 crore.

Analysts had estimated its net profit at Rs 798 crore on revenues of Rs 5,719 crore.
In dollar terms its revenue grew 2.7 per cent sequentially to $924 million.

Tech Mahindra announced to give one bonus share for every one share held in the company. This comes in the wake of its rivals Infosys and HCL Tech announcing bonus issues recently.
Tech Mahindra also decided to split its shares in the ratio of 2:1.