Tech Mahindra net profit up 27%

IT firm Tech Mahindra on Monday reported a 27% year-on-year jump in its consolidated net profit to Rs 686.3 crore for the quarter ended June 30, against Rs 540.5 crore in the year-ago period.

IT firm Tech Mahindra on Monday reported a 27% year-on-year jump in its consolidated net profit to Rs 686.3 crore for the quarter ended June 30, against Rs 540.5 crore in the year-ago period, led by broad-based growth across sectors like manufacturing and media and entertainment.

Tech Mahindra, part of the M&M group, saw revenues at Rs 4,103.2 crore, up 21.7% as compared with Rs 3,372.7 crore in the April-June 2012 quarter.

“We have completed one of the largest mergers in Indian corporate space in a seamless fashion,” Tech Mahindra executive vice-chairman Vineet Nayyar said.

The company in June completed the merger of Mahindra Satyam with itself to create India’s fifth largest software services firm.