Tuesday, April 28, 2009

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Tech Mahindra posts profit, upbeat on Satyam

Tech Mahindra Ltd, which is now a top-tier Indian outsourcing firm with its deal to take over Satyam Computer Services, on Monday posted a March quarter profit from a loss a year earlier.

The company, a unit of India's tractor and utility vehicle maker Mahindra & Mahindra, said a focus on efficiency and costs offset a weaker currency and global economic slowdown.

"The environment remains challenging," Sonjoy Anand, chief financial officer of Tech Mahindra told Reuters in a phone interview. "I would have to say that the environment on the pricing front is on the negative side."

Tech Mahindra received more than 60 percent of its revenue from Europe in January-March, and said a fall in the British pound against the Indian rupee over the year had dented earnings.


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