Tech Mahindra Q1 net profit down 10.55% at Rs 882.20 cr
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The company reported standalone net profit of Rs 882.20 crore for the quarter ended June 30, 2022 as compared to Rs 986.20 crore in the same period last year, registering a year-on-year decline of 10.55 per cent. Net revenue of the company rose substantially by 25.64 per cent at Rs 9,965.10 crore in April-June quarter of this fiscal as against Rs 7,931.50 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 30.77 per cent to Rs 8,726.80 crore from Rs 6,673.50 crore in year ago period. Other Income dipped by 50.52 per cent at Rs 118.60 crore versus (Jun'21 Rs 239.70 crore). Operating Profit slipped by 1.57 per cent to Rs 1,238.30 crore as against Rs 1,258.00 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 21.63 per cent in June quarter. Interest grew by 38.67 per cent y-o-y to Rs 25.10 crore, while Taxation decreased by 22.45 per cent at Rs 263.60 crore (Jun'21 Rs 339.90 crore).
