Mumbai: IT services company Tech Mahindra on Tuesday reported a 4.44 per cent decline in its September quarter net profit to Rs 1,194.5 crore.
The post-tax profit is lower than the Rs 1,250 crore it had posted in the year-ago period and marginally higher than the Rs 1,141 crore it reported in the preceding June quarter.
Its revenue grew to Rs 13,995 crore from Rs 13,313 crore a year ago and Rs 13,351 crore in the quarter-ago period, as per an exchange filing.
Its managing director and chief executive Mohit Joshi said the Americas saw an over 2 per cent decline in revenues during the quarter, mainly due to macroeconomic issues. From a sectoral perspective, its key vertical of communication witnessed a 2.5 per cent decline.
Clients in other sectors like manufacturing (up 5.2 per cent) and banking, financial services and insurance (up 6.5 per cent on-year) witnessed better spends, he said. The pre-tax profit margin expanded by 2.54 per cent year-on-year to 12.1 per cent during the reporting quarter.
Its chief financial officer Rohit Anand said this is the eighth consecutive quarter of an expansion in profitability and attributed the gains in Q2 to improved productivity and currency tailwinds.