Tech Mahindra Q2 net profit up 30% to Rs 836 cr

The IT firm cash and cash equivalents stood at Rs 5,961 cr as of September 2017

Country's fifth largest IT firm Tech Mahindra today said its consolidated net profit has increased 29.7% 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% at Rs 7,606.38 crore during the quarter under review as compared to Rs 7,167.41 crore in the year-ago period.

In dollar terms, the net profit was up nearly 34% to $129.3 million, while revenue was up 10% 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 1.17 lakh with software accounting for 75,587 professionals and BPO business had 35,287 people.

Tech Mahindra's cash and cash equivalents stood at Rs 5,961 crore as of September 2017.

"With our DAVID (Digitalisation, Automation, Verticalisation, Innovation, Disruption) strategy at play, we have posted reasonably good growth in the quarter across revenue, profit and new business," Tech Mahindra CEO and MD C P Gurnani said.