Tech Mahindra, India’s fifth largest software exporter, today announced consolidated financial results for its fourth-quarter and Year ended March 31, 2011. The fourth quarter revenue was at Rs. 1,261.5 crores; up 4.2% QoQ and Full year Revenue was at Rs. 5,140.2 crores; up 11.1% YoY. Tech Mahindra’s Net profit after tax (PAT) before share of profit/loss in associate was at Rs. 206.5 crores, up 0.5% QoQ.
For the Quarter, Tech Mahindra’s associate company Mahindra Satyam reported improved results with operating margins improving from 6.4 % in third quarter of FY11 to 13.0 % in the fourth quarter of FY11. Mahindra Satyam also announced the successful settlement of the US class action suit at a cost of USD 125 mn. Including this exceptional cost Mahindra Satyam reported a loss for the quarter. Tech Mahindra’s PAT including share of associate Company’s loss of Rs. 114.4 crores for the quarter was at Rs. 92.1 crores.
Source:http://www.indiainfoline.com/Markets/News/Tech-Mahindra-enters-billion-dollar-league/5164355735
