Tech Mahindra Q4 net vaults 152 pc at Rs 89 cr

Mumbai, May 24 (UNI) Telecom solutions major Tech Mahindra has clocked a 152 per cent vault in net profit for Q4 FY-06 at Rs 89 crore as against Rs 35.3 crore for the corresponding period the previous year.

For the same period, the company's revenue, too, rose sharply by 78 per cent at Rs 421.2 crore.

Tech Mahindra, which has emerged as the country's eighth largest software exporter, posted a net profit of Rs 235.4 crore in FY-06, as against Rs 102.4 crore in FY-05, a jump of 130 per cent, while its revenue expanded by 31 per cent at Rs 1,242.7 crore, as against Rs 945.6 crore in FY-05.

In a release issued here today, the company informed that it was now addressing new players in the telecom ecosystem which includes telecom equipment manufacturers and independent software vendors, in addition to its established portfolio of solutions for telecom service providers.

Company's vice chairman and managing director Vineet Nayyar said, ''The current quarter is a significant step in our endeavour to become a preferred IT solution provider to the telecom industry globally.'' UNI JJ GK VKG1455