Tech Mahindra beats Street estimates, profit gets boost by other income

Tech Mahindra reported a higher-than-expected earnings in the September quarter on the back of improved revenue growth in communications, hi-tech and media, and banking, financial services and insurance verticals.

The consolidated revenue rose over 2% sequentially to Rs 13,313.2 crore in July-September against Rs 13,005.5 crore reported in the June quarter. The topline also beat Bloomberg estimates of Rs 13,211 crore.