Tech Mahindra posts Q3 profit of Rs 276 cr

IT outsourcing firm Tech Mahindra today reported a consolidated net profit of Rs 276

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crore for the quarter ended December 31, 2011.

"Profit after tax for the quarter ended December 31, 2011 and 2010 are not comparable as the figures in respect of 2010 do not include share in profit of Satyam Computer Services Limited (SCSL) for the period," Tech Mahindra said in a filing to the BSE.

The company had a net profit of Rs 257 crore during the October-December quarter 2010, the company said.

Income from operations rose to Rs 1,444.87 crore during the quarter under review, against Rs 1,211.14 crore in the same period last year.

The total headcount of the company at the end of December 31, 2011 stood at 42,746 out of which software professional headcount stood at 25,218, BPO at 16,419 and support staff at 1,109.

The debt stood at Rs 1,376 crore as of December 31, 2011 and cash and cash equivalent stood at Rs 321 crore on balance sheet during the same period.

"We have had a satisfactory quarter, with growth in both revenue and margins. This is a result of our investments in growth markets, and in emerging technologies. We continue to focus on delivering enhanced value to our customers in an uncertain economic environment," Tech Mahindra Vice Chairman, MD and CEO Vineet Nayyar said.

At the end of December quarter, the company's active clients stood at 130.

Shares of Tech Mahindra settled at Rs 650.75 on the BSE, up 1.28 per cent from the previous close.

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