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Tech Mahindra profit rises over 46% in Sept quarter

Mumbai, Nov 5: Tech Mahindra, country's sixth largest software exporter, on Monday said its consolidated net profit grew by 46.57 per cent to Rs 160.13 crore for the quarter ended September 30, 2012.This is against
PTI November 05, 2012 17:25 IST
PTI
Mumbai, Nov 5: Tech Mahindra, country's sixth largest software exporter, on Monday said its consolidated net profit grew by 46.57 per cent to Rs 160.13 crore for the quarter ended September 30, 2012.



This is against a net profit of Rs 109.25 crore for the corresponding period last year, Tech Mahindra said in a statement.

The company's income from operations increased 18.98 per cent to Rs 1,507.87 crore in the quarter under review from Rs 1,267.27 crore in the year-ago period.

Total headcount (including HGS) stood at 50,479, while its cash and cash equivalent stood at Rs 359 crore as of September 30, 2012.

During the quarter, Tech Mahindra made two acquisitions — Hutchison Global Services (HGS) for $87.1 million and 51 per cent stake purchase in Comviva Technologies, a Bharti group company.

HGS provides customer lifecycle operations to clients in the UK, Ireland and Australia and has an associate base of over 11,500 employees.