Tech Mahindra shares zoom over 13% as company unveils 3-year roadmap to bounce back

Shares of Tech Mahindra on Friday surged over 13% after the company's CEO outlined an ambitious three-year roadmap to accelerate revenue growth and lift margins.

The stock jumped 13% to ₹1,344.95 on the BSE. At the NSE, it climbed 13.16% to ₹1,347.

The company's market capitalisation moved up by ₹10,754.85 crore to ₹1,26,705.84 crore.

It emerged as the biggest gainer on both the BSE Sensex and NSE Nifty.

Also Read: Tech Mahindra Q4 Profit at ₹661 crore, down 41%

The IT services company on Thursday reported 41% fall in consolidated net profit for the March quarter to ₹661 crore amid weakness in the communications vertical, even as its CEO outlined an ambitious three-year roadmap to boost revenue growth and lift margins.

The top brass acknowledged that the Q4 results marked a "low point" in the company's growth trajectory but exuded confidence that year-on-year improvement will become visible starting the first quarter.

Tech Mahindra CEO Mohit Joshi said the company hopes to come back to growth in H2 FY25.

In Q4 FY24, the company's revenue dropped by 6.2% year-on-year to ₹12,871 crore.

"We believe this year will be better than the previous one. In a world of heightened geopolitical turmoil, coupled with fast-evolving AI capabilities, organisations will either have to address and adapt or defend and insulate their businesses like never before," Joshi said during the Q4 earnings conference.

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