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India's Tech Mahindra Q1 profit rises about 7%, beats estimates

Monday, July 31, 2017 - 19:25

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Tech Mahindra Ltd, India's fifth biggest software services exporter, on Monday reported an about 7 per cent increase in first-quarter net profit, beating estimates, helped by higher revenue from its IT segment.

[BENGALURU] Tech Mahindra Ltd, India's fifth biggest software services exporter, on Monday reported an about 7 per cent increase in first-quarter net profit, beating estimates, helped by higher revenue from its IT segment.

Profit for the three months ended June 30 stood at 7.99 billion rupees (S$169.48 million), compared with 7.49 billion rupees last year.

Total revenue rose about 8 per cent to 77.47 billion rupees.

Analysts on average had expected a profit of 6 billion rupees, Thomson Reuters data showed.

Revenue from its IT segment rose about 7 per cent to 68.63 billion rupees.

REUTERS

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