Tech Mahindra Q2 profit slips 5% to Rs 1,065 crore even as margins increase

Tech Mahindra on Friday reported 5.27 per cent decline in September quarter net profit at Rs 1,064.6 crore, even as profit margins widened sharply. Revenue of the Mahindra Group company grew 3.32 per cent over last year and 2.32 per cent over the preceding June quarter to Rs 9,371 crore. The operating margin improved sequentially by over 4 percentage points to 14.2 per cent.

The other income came down to Rs 117.5 crore from the year-ago period’s Rs 216.3 crore majorly on the back of a Rs 35.6 crore loss booked on foreign exchange as against gains of Rs 49.6 crore in the year-ago period.