The country’s fifth largest software exporter, Tech Mahindra, today reported a 44 per cent fall in its consolidated net profit at Rs 168.95 crore for the second quarter ended September 30, 2009.

The company had a net profit of Rs 302.90 crore in the same quarter in FY’09, Tech Mahindra said in a filing to the Bombay Stock Exchange.

The company’s consolidated revenue stood at Rs 1,141.80 crore in the latest quarter, a minor drop of two per cent over the year-ago period.

Tech Mahindra has a debt of Rs 2,179 crore as of September 30, 2009, and during the second quarter, it refinanced Rs 1,150 crore of debt to reduce the effective interest rate on the debt portfolio to 8.7 per cent per annum, the filing added.

The figures do not include the financial of Mahindra Satyam, which Tech Mahindra took over in April this year.

Shares of Tech Mahindra closed at Rs 941.40, up 0.37 per cent over previous close on the BSE.

Keywords: Tech Mahindra

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