Tech M Q2 net falls 4.44% to `1,194.5 cr

Mumbai: IT services company Tech Mahindra on Tuesday reported a 4.44 per cent decline in its September quarter net profit to Rs1,194.5 crore. The post-tax profit is lower than the Rs1,250 crore it had posted in the year-ago period and marginally higher than the Rs1,141 crore it reported in the preceding June quarter. Its revenue grew to Rs13,995 crore from Rs13,313 crore a year ago and Rs13,351 crore in the quarter-ago period, as per an exchange filing. Its managing director and chief executive Mohit Joshi said the Americas saw an over 2 per cent decline in revenues during the quarter, mainly due to macroeconomic issues.