Tech Mahindra Reports 6.5% Rise In Q1 Net Profit
New Delhi: IT firm Tech Mahindra today reported 6.5 per cent rise in net profit at Rs 798.6 crore for the quarter ended June 30. This is against a net profit of Rs 749.3 crore in the year-ago period, Tech Mahindra said in a statement.
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Revenues of the fifth largest software exporter grew 6 per cent to Rs 7,336.1 crore in the reported quarter as against Rs 6,920.9 crore in the corresponding quarter last year.
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In dollar terms, the company's net profit was up 11.2 per cent to $123.8 million, while revenues grew 10.3 per cent to $1.13 billion in April-June 2017 quarter from the year-ago period. "Our June quarter performance reflects that we are moving in the right direction. We continue to realign and reshape our
business in line with the market demands," Tech Mahindra Vice-Chairman Vineet Nayyar said.
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CEO and MD CP Gurnani said despite all the headwinds in a seasonally weak quarter, the company's digital business grew ahead of expectations.
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(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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