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The country’s fifth-largest information technology (IT) firm Tech Mahindra on Wednesday said its consolidated net profit had increased 29.7 per cent to Rs 836.15 crore for the quarter ended September.
This is against a net profit of Rs 644.73 crore in the July-September 2016 quarter, Tech Mahindra said in a statement.The company's revenue from operations was up 6.1 per cent at Rs 7,606.38 crore during the quarter under review, compared to Rs 7,167.41 crore in the year-ago period. In dollar terms, the net profit was up nearly 34 per cent to $129.3 million, while revenue was up 10 per cent to $1.17 billion in the said quarter. “Tech Mahindra has once again proved that despite the occasional headwinds, geopolitical uncertainties, and changing demands, we will rise to grow,” Tech Mahindra Vice-Chairman Vineet Nayyar said. The company's total headcount stood at 117,000 with software and BPO business accounting for 75,587 and 35,287 professionals, respectively. Tech Mahindra’s cash and cash equivalents stood at Rs 5,961 crore as of September 2017.