Mahindra Satyam shares rise over 3 pc on strong Q2 numbers

MUMBAI: Bucking the weak general trend, IT company Mahindra Satyam today settled higher by over 3 per cent on the BSE after it posted over 10-fold rise in profit for the July-September quarter.

Boosted by the strong set of numbers, Mahindra Satyam shares ended 3.63 per cent higher at Rs 75.65 on the BSE. During the day, the scrip surged 7.53 per cent to Rs 78.50.

The broader market benchmark Sensex fell by about 1 per cent, or 169.28 points, to 17,192.82 points.

On the National Stock Exchange, the scrip gained 3.76 per cent to close at Rs 75.80.

Mahindra Satyam posted an over 10-fold rise in profit after tax (PAT) to Rs 238 crore for the July-September quarter of the current fiscal.

The company (formerly Satyam Computer) had reported a PAT of Rs 23.31 crore for the same quarter of the last fiscal.

Mahindra Satyam's results were announced yesterday. The stock market, however, was closed on account of 'Gurunanak Jayanti'.