Tech Mahindra reported a consolidated net profit of Rs 1,064 crore for the September quarter, a rise of 19 percent quarter on quarter from Rs 898 crore. The revenues rose 4 percent at Rs 8,630 crore against Rs 8,276 crore during the previous quarter. The Mahindra Group company reported dollar revenue of $1,218.2 million. The results managed to beat Street estimates. Analysts polled by Reuters, on average, expected revenue of Rs 8,605.8 crore and profit of Rs 1,003.7 crore. The consolidated earnings before interest and taxes grew 23 percent to Rs 1,324.3 crore from Rs 1,076.1 crore reported during the June quarter. The consolidated EBIT margin rose to 15.3 percent a rise of over 2 percentage points from 13 percent quarter on quarter. The company reported an attrition rate of 20 percent, a rise from 19 percent during the previous quarter. It also said that it added 4 clients during the quarter, ending the reported period with an active client count of 930. “It h...
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