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Tech Mahindra Q1 net profit rises 12.4% to Rs 8.98 billion, revenue up 13%

The company said that decline in net profit sequentially was due to a large gain from a land deal in the previous quarter

Tech Mahindra
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The company is pushing the non-linearity drive because headcount growth as a proportion of revenue growth is on the decline

Romita Majumdar Mumbai
India’s fifth-largest IT services company Tech Mahindra’s first quarter earnings met Street estimates, though tepid performance of its telecommunications vertical was a drag on its profitability.

The Pune-headquartered firm posted 12.4 per cent rise in its net profit at Rs 8.98 billion in the first quarter ended June, when compared with the corresponding period previous fiscal year. On sequential quarter basis, the profits, however, saw a sharp decline of 26.5 per cent.

The company said that decline in net profit sequentially was due to a large gain from a land deal in the previous quarter. Also, seasonality within the Com-viva

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First Published: Jul 30 2018 | 9:59 PM IST

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