Tech Mahindra has declared its third quarter results. The company's Q3 consolidated net profit was up at Rs 260 crore versus Rs 170 crore, quarter-on-quarter, QoQ.
Its consolidated income from operations at Rs 1,211 crore.
In a press conference, Tech Mahindra said:
-Added 2 new clients in Q3
-Total customer count at 126 till December-end
-Debt as on December at Rs 1,348 crore versus Rs 1,426 crore in September
-Cash, cash equivalents at Rs 519 crore as on December 31
-Q3 IT utilisation at 76.3%
-Discretionary IT spending slow to pick up
-Q3 attrition around 30%
-Q3 volume growth flat sequentially
-Seeing recovery in demand from US
-Telecom sector facing challenges worldwide
-Wound up operations of Singapore arm
-Q3 revenue from BT biz at 74 million pounds
-Plan to hire 4,000 from campuses by July
-Q3 operating profit margin at 20.6%
-Expect clients to spend more on telecom in 2nd half of 2011
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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