Tech Mahindra Q1 profit jumps 39% YoY to Rs 1,353 crore, beats estimates

The company beat profit expectations by a wide margin as most brokerages had projected the figure to rise between 16-23 per cent YoY

Information technology major Tech Mahindra reported a 39.17 per cent year-on-year (YoY) jump in its consolidated net profit at Rs 1,353.2 crore for the April-June period of financial year 2021-22 (Q1FY22) as against Rs 972.3 crore posted in the corresponding quarter last year. On quarter-on-quarter (QoQ) basis, the profit rose by 25.13 per cent.

The consolidated revenue from operations in June 2021 quarter grew 11.98 per cent YoY at Rs 10,197.6 crore. The company had posted revenue of Rs 9,106.3 crore in the same period a year ago. Sequentially, the figure rose by 4.8 per cent from Rs 9,729.9 crore