February 5, 2019 / 10:14 AM / 4 months ago

India's Tech Mahindra quarterly profit surges 28 pct, tops estimate

Feb 5 (Reuters) - Software services exporter Tech Mahindra Ltd posted on Tuesday a better-than-expected third-quarter net profit, boosted by robust growth in its IT business.

Net profit came in at 12.03 billion rupees ($167.71 million), in the three months ended Dec. 31, compared with 9.43 billion rupees a year earlier, the company said bit.ly/2Gp4JrN.

Analysts on average had expected a quarterly profit of 11.03 billion rupees, according to Refinitiv data.

Revenue from operations jumped 15 percent to 89.44 billion rupees, while revenue from its IT service unit climbed 14.4 percent.

$1 = 71.7310 Indian rupees Reporting By Arnab Paul in Bengaluru, Editing by Sherry Jacob-Phillips

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