Tech Mahindra Q3 net flat at Rs.276 cr

With a one-off payment at Mahindra Satyam dragging down profits, Tech Mahindra missed estimates and reported flat growth for the October-December quarter, with a net profit of Rs.276 crore. HT reports.

With a one-off payment at Mahindra Satyam dragging down profits, Tech Mahindra missed estimates and reported flat growth for the October-December quarter, with a net profit of Rs.276 crore.

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Vineet Nayyar, executive vice chairman, said the merger of Tech Mahindra and Mahindra Satyam would take place within a few weeks.

“I think we are at the penultimate hour. Annual general meetings of both the companies have approved merger. It is now before the Hyderabad High Court,” he said.

“Our deal flow this quarter is better than the previous three. Decision cycles, particularly in Europe, will be better,” he added.