Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
31 January, 2015 18:45 IST
TechM Q3 profit surges 67% y-o-y; up 36% sequentially
Source: IRIS | 06 Feb, 2013, 04.29PM
Comments  |  Post Comment

Tech Mahindra, India's sixth largest software exporter, said Wednesday the company's third quarter profit surged 36% sequentially and 67% on year on year basis to Rs 2.42 billion. Profit including share of associate was at Rs 2.76 billion.

Reveues on the other hand was at Rs 17.91 billion for quarter ended Dec. 31, 2012, registering rise of 10% sequentially and 24% on year on year basis.  

While operating profit went up 11% sequentially and 61% on year on year basis to Rs 3.76 billion.

Vineet Nayyar, executive vice chairman of Tech Mahindra (Q,N,C,F)* said, "Our growth trajectory continues. Tech Mahindra has been consistently performing with key wins and partnerships, supplemented by non organic initiatives. As we look forward we continue to see opportunities to help our customers in their strategic objectives, through innovative solutions."

C P Gurnani, managing director of Tech Mahindra said, "We continue our journey to be a preferred partner in our customer’s transformation initiatives. Our recent wins demonstrate our capability in helping our clients to streamline their IT portfolio while achieving the benefits of optimization and linkage to outcomes."

Total headcount stood at 49,059 as at Dec. 31, 2012. Software professional were at 25,009,  BPO at 22,565 and Support staff at 1,485.

Debt at Rs 13.18 billion as of Dec. 31, 2012 as against Rs 12.86 billion for the previous quarter.

Cash and cash equivalent stood at Rs 4.82 billion as of Dec. 31, 2012 versus Rs 3.59 billion in Q2FY13.

The company has witnessed increase in number of active clients to 140 against 126 in Q2FY13.

Shares of Tech Mahindra gained Rs 10.45, or 1.08%, to settle at Rs 979.10. The total volume of shares traded was 51,169 at the BSE (Wednesday).

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
Whirlpool of India standalone quarterly earnings surge 48.42% - 30-Jan-2015 19:19
Shriram Transport Finance board elevates Lakshminarayanan as chairman - 30-Jan-2015 17:26
Tech Mahindra consolidated quarterly profit declines 20.25% - 30-Jan-2015 15:49
Binani Industries swings to profit in Oct-Dec quarter - 30-Jan-2015 15:43
NTPC standalone quarterly net climbs 7.43% - 30-Jan-2015 15:38
Kirloskar Brothers swings to loss in Oct-Dec quarter - 30-Jan-2015 15:35
Adani Enterprises consolidated quarterly profit soars 6.51 times - 30-Jan-2015 15:30
JSW Steel consolidated quarterly profit drops 29.49% - 30-Jan-2015 15:25
Monsanto India standalone quarterly net drops 25.76% - 30-Jan-2015 15:20
Dabur India consolidated Q3 profit climbs 16.5% - 30-Jan-2015 14:55
Siemens Q1 profit surges to Rs 6.34 bn - 30-Jan-2015 14:47
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer