Tech Mahindra fourth-quarter profit doubles, beats estimate

Image
Reuters
Last Updated : May 25 2018 | 4:05 PM IST

(Reuters) - Indian software services exporter Tech Mahindra Ltd on Friday posted a more than two-fold rise in fourth-quarter profit, helped by a rise in deal wins during the period.

Net profit rose to 12.22 billion rupees ($180.32 million) in the three months ended March 31, from 5.88 billion rupees a year earlier, Tech Mahindra said https://bit.ly/2xaZc5b on Friday.

Analysts on average had expected a profit of 9.34 billion rupees, according to Thomson Reuters data.

Revenue from operations rose 7.5 percent to 80.55 billion rupees.

($1 = 67.7700 Indian rupees)

Also Read

(Reporting by Tanvi Mehta in Bengaluru; Editing by Vyas Mohan)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 25 2018 | 3:56 PM IST

Next Story