Tech Mahindra Q3 net profit up 14 pc at Rs 856 cr

Tech Mahindra today posted about 14 per cent jump in consolidated net profit to Rs 856 crore for the third quarter ended December, 2016-17.
It had posted net profit of Rs 751.3 crore in the October- December period of last fiscal, 2015-16.
Its income from operations (net) increased by 12.7 per cent to Rs 7,557.5 crore in the reported quarter, from Rs 6,701.1 crore in the year-ago period, according to the company's BSE filing.
"The strong deal wins and business momentum during the quarter reaffirm that we are on the right track to capitalise on the opportunities from the global digital transformation and see measurable benefits from that," Tech Mahindra Vice Chairman Vineet Nayyar said.

In dollar terms, Tech Mahindra's net profit was up 11.4 per cent to USD 126.3 million, while revenue was up 10 per cent to USD 1,116.1 million in the said quarter.
In constant currency terms, the revenue growth was at 12 per cent year-on-year and 5.4 per cent sequentially.

Its IT revenue during the said quarter stood at Rs 7,031.16 crore, while that from BPO was at Rs 526.31 crore.
Americas accounted for 46.7 per cent of its revenues, while Europe and Rest of the World accounted for 29.4 per cent and 23.9 per cent, respectively.
Its total headcount was at 1,17,095 at the end of December 2016 quarter with 80,858 software professionals. It added 4,209 professionals in the said quarter.

Attrition (on last 12 month basis) was at 18 per cent.
Cash and cash equivalents stood at Rs 4,951 crore with the addition of cash of Rs 950 crore during the quarter.
Its active client count stood at 837 in the third quarter and added 12 active clients quarter-on-quarter.
The company has announced that Jayararnan G, its company secretary and chief compliance officer, will retire at the close of business hours on March 31, 2017.
It added that Anil Khatri will succeed him with effect from April 1, 2017.