Tech Mahindra Q1 net up

On a sequential basis, Tech Mahindra's revenue rose 8.9% and net profit by 7.6%

Tech Mahindra posted a net profit of Rs 686 crore for the quarter ended June 30, up 27 per cent compared with the corresponding quarter last year. The firm’s revenue was up 21.7 per cent at Rs 4,103 crore for the quarter year-on-year.

On a sequential basis, Tech Mahindra's revenue rose 8.9 per cent and net profit by 7.6 per cent. The numbers of this quarter represent the combined entity of Tech Mahindra and Mahindra Satyam, as the former acquired the latter.

“We have completed one of the largest mergers in the Indian corporate space this quarter in a seamless fashion, fulfilling the commitment we made in April 2009.

Our robust performance reinforces our belief in the inherent strength and cross leveraging possibilities, for the integrated entity,” said Vineet Nayyar, executive vice-chairman.