 Tech Mahindra witnessed a 2 % fall in revenues for Q2 2009 at Rs 1,142 crore while the high interest loans secured for acquiring Satyam pulled down its net profit by 44 % to Rs 169 crore. The dip in revenues of British Telecom also seem to be impacting Tech Mahindra.
The company’s debt stood at Rs 2,179 crore.
Operating profit was Rs 292.5 crore as compared to Rs 284..2 crore last year. EPS fell down from Rs 23.23 a year ago to Rs 12.99.
The company’s expenditure during the quarter went up by 10.6 % on account of increased employee and travel costs. Offshore employees were given a 6 % salary hike while onshore employees were given a 3 % hike. |