Firm Tech Mahindra on Tuesday posted an over three-fold jump in consolidated net profit to Rs 1,009.8 crore in the quarter ended December, on growth in telecom, financial and manufacturing sectors.
The company had posted a profit of Rs 321.5 crore in the same period last year, Tech Mahindra said in a statement. Consolidated revenue grew 33.5 per cent to Rs 4,898.5 crore for the reported quarter from Rs 3,668.3 crore in the year-ago period.
“Growth has come from our main verticals -- telecom, manufacturing and BFSI (banking, financial services and insurance). We remain confident of the success of our differentiated offerings,” Tech Mahindra Executive Vice Chairman Vineet Nayyar said.
In dollars terms, revenue grew 17.2 per cent year-on-year to $791 million, while net profit was 175.7 per cent higher at $163.1 million. “Our strategy and investments are aligned with market drivers and demands. Our focus on connected solutions for digital enterprises will continue to drive this momentum,” Tech Mahindra Chief Executive Officer and Managing Director C P Gurnani said.