New Delhi : IT company Tech Mahindra on Friday said its consolidated net profit more than doubled to Rs 1,222 crore in the quarter ending March 2018.
The company had posted a net profit of Rs 587.9 crore in the same period a year ago, it said. Consolidated revenue from operations of Tech Mahindra increased by 7.4 per cent to Rs 8,054.5 crore in the reported quarter, from Rs 7,495 crore in the same period of 2016-17. “It’s been a great year of execution despite volatility in the market place. Our customer accolades and various recognitions for sustainability reflect well on our long term strategy for growth,” Tech Mahindra Vice Chairman Vineet Nayyar said.
For 2017-18, the company posted about 35 per cent rise in net profit at about Rs 3,800 crore, while revenue increased by 5.6 per cent to about Rs 30,773 crore from the previous fiscal.
“Continued focus on operational metrics has led to improved performance through the year. Growth in digital areas is particularly encouraging,” Tech Mahindra Managing Director and CEO CP Gurnani said.
