Better results on potential in overseas biz: Tech Mahindra

After beating market expectations with an 8.6 percent quarter-on-quarter (QoQ) revenue growth, Tech Mahindra is confident of outperforming these numbers in the coming quarters.

The information technology (IT) solutions provider’s net profits for the quarter rose by 7.6 percent to Rs 686 crore. Its dollar revenue growth stood at USD 724 million, while margins strengthened at 21 percent. Also read: Tech Mahindra Q1 net up 7.6% QoQ, up FII investment limit The company’s management was delighted on the back of the better-than-expected results. CP Gurnani, MD & CEO of Tech Mahindra told CNBC-TV18 that he was very happy and proud to have delivered this result. “Currently, we are seeing traction in Europe and Africa, but better traction in greater potential places like Australia, New Zealand, and United States will be good. We can do better and will capture opportunities when they arise”, says Vineet Nayyar, executive vice chairman of Tech Mahindra. On the company’s hedging strategy going forward, Milind Kulkarni, CFO of Tech Mahindra sees it to be slower than earlier due to rupee’s fall.