TechM posts loss in Quarter ending March 31

IT services provider Tech Mahindra on Friday reported a decline of 1.47 per cent in its consolidated net profit at Rs 226 crore for the quarter ended March 31, 2010.

Total income rose to Rs 1,257 crore for the quarter ended March 31, from Rs 1,059 crore in the same period last year, Tech Mahindra said in a filing to the Bombay Stock Exchange.

"This quarter saw us consolidate our position in the arena of complete end to end outsourcing. Our robust performance this quarter is a measure of our ability to understand customer needs and tailor solutions specific to these needs," Tech Mahindra Chairman Anand Mahindra said.


The board of the company has proposed a dividend of Rs 3.5 per share on the face value of Rs 10 per share for the financial year ended March 31, 2010.

For the year ended March 31, the company has reported a consolidated net profit at Rs 700 crore, down 30.96 per cent over the same period last year.

During the quarter the company added 3,120 personnel, taking the headcount to 33,524. Shares of Tech Mahindra on Friday closed at Rs 773.60 on BSE, up 0.69 per cent from previous close.