Tech Mahindra September-quarter Profit Beats Estimates
Tech Mahindra posted a 30 per cent jump in profit attributable to owners at Rs 8.36 billion ($129.42 million) for the September-quarter, handily beating analysts' average estimate of Rs 7.18 billion
Software services exporter Tech Mahindra posted a better-than-expected rise in second-quarter net profit, aided by key client wins.
Active client count grew seven percent to 885 in the quarter, the company said on Wednesday.
Tech Mahindra posted a 30 per cent jump in profit attributable to owners at Rs 8.36 billion ($129.42 million) for the September-quarter, handily beating analysts' average estimate of Rs 7.18 billion, according to Thomson Reuters data.
The IT company also earned Rs 3.22 billion under "other income" including a foreign exchange gain of Rs 2.27 billion.
Bigger rivals Wipro and Infosys Ltd also posted a rise in second-quarter profit.
Tech Mahindra's revenue from operations rose 6 percent to Rs 76.06 billion.
Shares closed down 1.3 per cent in trading, while the NSE Nifty ended 1 per cent higher.
(Reuters)