Tech Mahindra net profit up 22%; meets expectation

Updated: Thursday, August 9, 2012, 17:14 [IST]

Tech Mahindra, software service provider posted results in line with market expectation, profit after tax rose 11.7% and 22% year-on-year to Rs 338 crore in the quarter ended June 2012, marginally higher than expectation.

The company's profit after tax (PAT) stood at Rs 338 crores against Rs 303 crores quarter on quarter(q-o-q). Revenue rose 9% to Rs 1543 core against Rs 1419 crore for the corresponding period of previous quarter.

Headcount stood at 40,630 for the Q1 quarter. Earnings before interest, tax, depreciation and amortisation (EBITDA) surged 38.66% QoQ to Rs 330 crore

Cash and cash equivalent stood at Rs 280 crore in the first quarter of financial year 2012-13. However, its debt dropped by Rs 240 crore to Rs 886 crore as of June 30.

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