TechM profit jumps 19% to Rs 1,167 crore

Tech Mahindra posted an 18.7% sequential increase in net profit for the fiscal fourth quarter at Rs 1, 167 crore, the Mumbai-based tech major announced on Thursday. The net profit came in ahead of Bloomberg estimates of Rs 1, 081 crore.

Revenue for the quarter under consideration was up 0.7% at Rs 13, 384 crore, on-quarter trailing Bloomberg estimates of Rs 13, 459 crore. The firm also trailed street estimates on earnings before interest, taxation, depreciation and amortisation (Ebitda) of Rs 1, 874 crore at Rs 1, 867 crore. Ebitda was up 3.2% quarter on quarter.