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Tech Mahindra Q4 Net Up 25% At Rs 377.24 Cr

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Software exporter Tech Mahindra on Tuesday, 21 May 2013, reported a 25 per cent increase in its consolidated net profit at Rs 377.24 crore for the quarter ended March 31, 2013.

The company, part of the $15.9 billion Mahindra Group, had posted a net profit of Rs 302.50 crore in the year-ago period, it said in a BSE filing.

The consolidated income of the firm also rose by 34 per sent to Rs 1,907.17 crore in January-March quarter of last fiscal against Rs 1,419.05 crore in the same quarter of 2011-12 fiscal.

"I am satisfied that we have delivered profitable growth for FY13, with significant margin improvement. I am confident that with our deep domain expertise in Telecom and a full portfolio of offerings, we would be able to leverage our leadership position to deliver higher value for all our stakeholders," Tech Mahindra Executive VP Vineet Nayyar said.

In terms of revenue break-up segment wise, the company's telecom service vertical was followed by telecom equipment, BPO and others.

For the entire 2012-13 fiscal, the firm's consolidated net profit rose to Rs 1,287.81 crore from Rs 1,095.54 crore in the 2011-12 fiscal. Its consolidated income increased to Rs 6,873.08 crore as against Rs 5,489.69 crore during the same period.

"The Board of Directors have recommended a dividend of Rs 5 per share (50%) for 2012-13 fiscal," it said.

Its total headcount stood at 47,498 for the year ended March 31, 2013 of which software professionals accounted for 24,410, BPO (21,552) and support staff at 1,536, it said.

Tech Mahindra's cash and cash equivalent stood at Rs 710 crore as of March 31, 2013, the company added.

The company reported a debt of Rs 1,380 crore as of March 31, 2013.

On the client side, Tech Mahindra said its active client count stood at 151 in FY 13 against 130 in FY 12.

On the outlook, Tech Mahindra Managing Director C P Gurnani said "We are optimistic about FY 14, buoyed by our deal pipeline, business traction from recent acquisitions and leverage of business synergies with Mahindra Satyam".