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Tech Mahindra, the Mahindra Group’s IT subsidiary, on Wednesday reported a 34% year-on-year jump in profit for the first quarter ended June, helped by lower subcontracting expenses.
Net profit at Rs 1,140.6 crore was 2% lower sequentially on lower tax write-back compared with the March quarter.
Revenue at the nation’s fifth largest software service provider rose 2.7% from a year earlier to Rs 13,351 crore. Its largest region for business, the Americas that accounts for nearly half of its revenue, posted an almost 6% drop in revenue, but growth in…
