Tech Mahindra seems to be gradually coming out of the financial impact caused due to Satyam acquisition.

The company’s net profit for Q3 dipped by 21% to Rs 172.8 crore but is on a rise when compared to the preceding quarter figures of Rs 168.95 crore. The company’s net in Q3 was impacted by higher costs (Rs 45.9 crore) arising from borrowing related to Satyam acquisition.

Revenues for the quarter under consideration rose by 5% to Rs 1,187.3 crore from Rs 1,132.2 crore posted a year ago.

The company expects to bring down its debt position to Rs 1,400 crore by January as compared to Rs 1,700 crore in December.

British Telecom (BT) paid Tech Mahindra Rs 968.2 crore as contract restructuring fees on certain long-term deals. Part of this money, Rs 450 crore, was used to repay the debt it raised to buy a majority stake in Mahindra Satyam.