Millennium Post

Tech Mahindra September quarter profit soars 47%

Tech Mahindra, country’s sixth largest software exporter, on Monday said its consolidated net profit grew by 46.57 per cent to Rs 160.13 crore for the quarter ended 30 September 2012.

This is against a net profit of Rs 109.25 crore for the corresponding period last year, Tech Mahindra said in a statement.

The company’s income from operations increased 18.98 per cent to Rs 1,507.87 crore in the quarter under review from Rs 1,267.27 crore in the year-ago period.

The total headcount (including HGS) stood at 50,479, while its cash and cash equivalent stood at Rs 359 crore as of 30 September 2012.

During the quarter, Tech Mahindra made two acquisitions – Hutchison Global Services (HGS) for USD 87.1 million and 51 per cent stake purchase in Comviva Technologies, a Bharti group company.

HGS provides customer lifecycle operations to clients in the UK, Ireland and Australia and has an associate base of over 11,500 employees.   
Next Story
Share it