Tech Mahindra net profit up 34% YoY at Rs 1,081 cr, declines sequentially

Tech Mahindra announ­ced a net profit of Rs 1,081 crore for the fourth qu­a­rter (Q4) ended March 31, 2021, up 34.6 per cent year-on-year (YoY), but down sequentially by 17.4 per cent.

Revenue for the quarter was up 2.5 per cent YoY at Rs 9,730 crore, but grew a mere 0.9 per cent compared to the pre­ceding quarter ended Dec­ember 31, 2020. The firm also announced the acquisition of Eventus Solutions, a consulting and technology ser­vices company, headquartered in the US, for $44 million.

The acquisition will bolster consulting capabilities in the customer experience and customer management space. Ev­e­ntus Solutions offers end-to-end customer engagement so­l­­utions, such as strategy consulting,