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Tech Mahindra Q3 result

Information technology major Tech Mahindra on February 1 reported a 2.2 percent quarter-on-quarter rise in consolidated net profit at Rs 1,368.5 crore, which was slightly below analysts’ expectations of Rs 1,397.5 crore.

The IT company reported a 5.2 percent sequential rise in consolidated revenues of Rs 11,451 crore, which was also slightly above Street’s estimate.

In US dollar terms, Tech Mahindra’s revenues rose 4.1 percent sequentially, while in constant currency terms the growth was 4.7 percent on-quarter.

On the operating front, the company’s performance was strong as consolidated operating profit grew 3.3 percent sequentially to Rs 2,060 crore, which was sharply above Street’s estimate of Rs 1,825 crore.