Tech Mahindra PAT up 8.2% in Q1; trails estimates

Tech Mahindra posted 8.2% sequential rise in net profit for the first quarter of the fiscal at Rs 1,465 crore (Q4: Rs 1,353.8 crore), buoyed by healthy revenue growth, the tax tech major announced on Thursday. The net profit however trailed Bloomberg estimates of Rs 1,583 crore.

Revenue for the quarter under consideration was up 4.2% sequentially at Rs 15,712 crore (Q4: Rs 15, 076 crore), beating Bloomberg estimates of Rs 15,458 crore.

The firm also beat street estimates on earnings before interest, taxation, depreciation and amortisation (EBITDA) of Rs 2,682 crore at Rs 2,743 crore, up 6.9% quarter on quarter.