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Published on 23/10/2020 5:35:43 PM | Source: Dion Global Solutions Ltd

Tech Mahindra Q2 net profit down 31.16% at Rs 961.50 cr

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The company reported standalone net profit of Rs 961.50 crore for the quarter ended September 30, 2020 as compared to Rs 1396.80 crore in the same period last year, registering a year-on-year decline of 31.16 per cent. Net revenue of the company rose marginally by 4.35 per cent at Rs 7,404.40 crore in July-September quarter of this fiscal as against Rs 7,095.70 crore in the corresponding period last year.

During July-September quarter, operating expenses increased by 1.84 per cent to Rs 6,118.30 crore from Rs 6,007.70 crore in year ago period. Other Income dipped by 72.94 per cent at Rs 157.00 crore versus (Sep'19 Rs 580.10 crore).

Operating Profit surged by 18.21 per cent to Rs 1,286.10 crore as against Rs 1,088.00 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 13.31 per cent in September quarter. Interest grew by 28.33 per cent y-o-y to Rs 15.40 crore, while Taxation increased by 233.07 per cent at Rs 296.10 crore (Sep'19 Rs 88.90 crore).