Tech Mahindra disclosed a sharp rise in consolidated net profit for the quarter ended March 2016. During the quarter, the profit of the company rose 90.06% to Rs 8.97 billion from Rs 4.72 billion in the same quarter previous year. On sequential basis, the company registered a rise of 18.15% in the net profit.

Revenues for the quarter rose 12.54% to Rs 68.83 billion, compared with Rs 61.16 billion for the prior year period. On sequential basis, the company showed an increment of 2.72% in the revenues.

Analysts had expected Tech Mahindra to report a profit of Rs 7.51 billion on revenue of Rs 68.31 billion.

Operating margin for the quarter stood at 16.87 percent as compared to 15.31 percent for the previous year period. Operating Income for the quarter was Rs 11,613.10 million, compared with Rs 9366.1 million in the previous year period.

Earnings per share for the quarter stood at Rs 9.11, registering 89.79% growth over previous year period.

Vineet Nayyar, vice chairman, Tech Mahindra, said, ''FY 16 has been a year where our relentless focus on metrics like yield management and efficiencies has helped us improve our performance in the face of some headwinds. We continue to build competitive advantages in our business operations which will hold us in good stead in these changing markets.''

C P Gurnani, managing director & CEO, Tech Mahindra said, ''Our FY16 results underscore our commitment to improve both revenues and margins, with a greater focus in the areas of Digital, Automation, Verticalization, Innovation and Disruption. We enter the new financial year on a backdrop of improved business fundamentals.''

Shares of the company gained Rs 2.6, or 0.55%, to settle at Rs 479.25. The total volume of shares traded was 168,931 at the BSE (Tuesday).