BackTech Mahindra Q3 net up 12% to Rs222.90 cr
Tech Mahindra Q3 net up 12% to Rs222.90 cr
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Mumbai: Software firm Tech Mahindra today has reported a 12% growth in its net profit at Rs222.90 crore for the third quarter ended 31 December, 2008.
The Mahindra group firm had a net profit of Rs199.60 crore in the third quarter of FY’08, the company said in a filing to the Bombay Stock Exchange (BSE).
The total income rose 17% to Rs1,132.20 crore for the quarter under review, from Rs970.40 crore in the corresponding period last fiscal.
“Despite the tough macro-economic environment, Tech Mahindra has demonstrated resilience in its performance," company Chairman Anand Mahindra said.
For the nine-month ended December 2008, the software firm reported a 42% growth in net profit at Rs784.10 crore and the revenue grew 24% at Rs3413.40 crore in the year-ago period.
“Our backlog of long term deals has added value in these conditions and will provide enhanced visibility to our performance going forward," Tech Mahindra Vice Chairman and MD Vineet Nayyar said.
Shares of Tech Mahindra closed at Rs210.15, down 8.19% on the BSE.
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