TechM Q3 Profit Surges 89% to Rs 989 Cr | Tech Mahindra

Mumbai, Jan 17 (PTI) IT services exporter Tech Mahindra on Friday reported an 89 per cent jump in the December quarter net profit at Rs 989 crore.

The Mahindra group company's performance was impacted in the year-ago period, and it had reported a net profit of Rs 524 crore in the year-ago period.

For the reporting quarter, its revenue from operations increased by 1.4 per cent to Rs 13,286 crore, while the cost of services were down by 5.1 per cent at Rs 9,456 crore.

The operating profit margin expanded to 13.6 per cent, as against 13.1 per cent in the quarter-ago period and 8.8 per cent in the year-ago period.

The company scrip closed 1.81 per cent down at 1,658.85 a piece on the BSE on Friday, as against a 0.55 per cent correction on the benchmark sensitive index Sensex.