Tech Mahindra quarterly profit surges 28 percent, tops estimate

(Reuters) - Software services exporter Tech Mahindra Ltd posted on Tuesday a better-than-expected third-quarter net profit, boosted by robust growth in its IT business.

Net profit came in at 12.03 billion rupees ($167.71 million), in the three months ended Dec. 31, compared with 9.43 billion rupees a year earlier, the company said.

Analysts on average had expected a quarterly profit of 11.03 billion rupees, according to Refinitiv data.

Revenue from operations jumped 15 percent to 89.44 billion rupees, while revenue from its IT service unit climbed 14.4 percent.

($1 = 71.7310 rupees)

(Reporting By Arnab Paul in Bengaluru, Editing by Sherry Jacob-Phillips)