Tech Mahindra Q2 profit rises 14%; deal pipeline robust

IT services major Tech Mahindra on Tuesday reported a 13.6% sequential rise in its net profit at Rs 1,285 crore in the September quarter. The profit came in above the Bloomberg estimates of Rs 1,212.50 crore.

On a year-on-year basis, however, the company’s net profit declined 4% from Rs 1,339 crore in the same period last year due to cost inflation and supply side pressures in the last 12 months.