Tech Mahindra First-Quarter Profit Rises About 7 Percent, Beats Estimates
Profit for the three months ended June 30 stood at 7.99 billion rupees ($124.55 million), compared with 7.49 billion rupees last year.
Image for representation. (Image: Reuters)
Tech Mahindra Ltd, India's fifth biggest software services exporter, on Monday reported an about 7 percent increase in first-quarter net profit, beating estimates, helped by higher revenue from its IT segment. Profit for the three months ended June 30 stood at 7.99 billion rupees ($124.55 million), compared with 7.49 billion rupees last year.
Total revenue rose about 8 percent to 77.47 billion rupees. Analysts on average had expected a profit of 6 billion rupees, Thomson Reuters I/B/E/S data showed. Revenue from its IT segment rose about 7 percent to 68.63 billion rupees.
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