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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

Press Trust of India  |  New Delhi 

Tech Mahindra
In this file photo, an employee sits at the front desk inside Tech Mahindra office building in Noida on the outskirts of New Delhi. (Photo: Reuters)

Country's fifth largest IT firm today said its consolidated net profit has increased 29.7% to Rs 836.15 crore for the ended September.

This is against a net profit of Rs 644.73 crore in the July-September 2016 quarter, said in a statement.

The company's revenue from operations was up 6.1% at Rs 7,606.38 crore during the 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

"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.

First Published: Wed, November 01 2017. 16:00 IST