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Tech Mahindra Q1 Beats Expectations; Net Profit Up 43 Per cent
IT services firm Tech Mahindra has posted a 43 per cent growth in its net profit to Rs 676 crore for the quarter ended June 30, 2015, surpassing the market expectation.
The company's revenue rose by 2.9 percent quarter-on-quarter to Rs 6,293.8 crore and dollar revenue rose 0.5 per cent USD 989 million in the quarter.
Earnings per Share (EPS) was Rs 6.87 for the quarter ended June 30, 2015. The company's cash and cash equivalent stood Rs 3,350 crore as of June 30, 2015.
The Active Client count stood at 770 in Q1. Total income from operations rose by 5.2 percent to Rs 4,950.3 crore for this quarter.
Vineet Nayyar, Executive Vice Chairman, Tech Mahindra, said "Our results are in line with our expectations, but we sense traction across our markets and remain hopeful of improving our performance by expanding our business in the coming quarters.
The company's standalone net profit surged by 90.40 percent sequentially to Rs 816.84 crore.
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