Tech Mahindra on Tuesday reported a 4 per cent decline in consolidated profit after tax at Rs 1,285 crore in the September quarter. The country’s fifth largest IT services exporter had reported a net profit of Rs 1,339 crore in the year-ago period.
The company’s overall revenue rose 20.7 per cent to Rs 13,129 crore in the second quarter of the current fiscal. In the same period a year ago, it stood at Rs 10,881 crore, according to a statement.
Tech Mahindra’s Chief Executive Officer and Managing Director C P Gurnani described the market conditions as “evolving” and said that supply side challenges continue. It reported a total contract value of newly signed deals at USD 716 million for the September quarter as against USD 750 million in the year-ago period and USD 802 million in the preceding June quarter.