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21 June, 2018 02:30 IST
Tech Mahindra quarterly profit zooms 2.09 times to Rs 12.31 bn
Source: IRIS | 25 May, 2018, 04.02PM
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Tech Mahindra announced a sharp rise in consolidated net profit for the quarter ended March 2018. During the quarter, the profit of the company rose 2.09 times to Rs 12,308 million from Rs 5,897 million in the same quarter previous year.

 

Total Income for the quarter rose 9.99% to Rs 85,057.60 million, compared with Rs 77,329 million for the prior year period.

 

 

Earnings per share for the quarter stood at Rs 13.72, registering 2.08 times growth over previous year period.

 

 

''It's been a great year of execution despite volatilities in the market place. Our customer accolades and various recognitions for sustainability reflect well on our long term strategy for growth,'' said Vineet Nayyar, Vice Chairman, Tech Mahindra. (Q,N,C,F)*

 

Commenting on the Q4 performance, CP Gurnani, Managing Director & CEO of Tech Mahindra said, ''Continued focus on operational metrics has led to improved performance through the year. Growth in digital areas is particularly encouraging. We remain focused on delivering value to our customers, while helping our employees FUTURise with constant innovation in the digital world.''

 

Shares of the company declined Rs 7.9, or 1.11%, to settle at Rs 702.45. The total volume of shares traded was 175,970 at the BSE (Friday).

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