New Delhi: Mahindra's IT company Tech Mahindra has announced the results for the July to September quarter. The company has given information about its financial performance in these results. The impact of the quarterly results will also be seen in the shares on Monday. Let us know how the financial condition of the company was in the second quarter of this current financial year.

How is the financial position of the company

IT services provider Tech Mahindra informed the stock exchange that its net profit more than doubled to Rs 1,250 crore in the September quarter from Rs 493.9 crore in the same period of the previous fiscal.

The company's revenue also grew by 3.49 percent to Rs 13,313.2 crore this quarter. Whereas, in the same quarter last year it was Rs 12,863.9 crore.

According to the information given in the stock exchange filing, the company's other income includes a profit of Rs 4,502 million. This profit has been made from the sale of assets. The company has raised Rs 5,350 million by selling freehold land and related buildings as well as furniture and fixtures.

Project Fortius unveiled

Tech Mahindra CEO Mohit Joshi unveiled Project Fortius in April this year. Through this project, the company is planning to achieve 15 percent operating margin in the next three years.

Increase in the number of employees

Tech Mahindra is headquartered in Pune. The company said that it has added 6,653 employees during the quarter under review. After this, the total number of employees of the company increased to 1,54,273.

Tech Mahindra shares forecast

In the last trading session, Tech Mahindra shares fell 0.68 percent to close at Rs 1,688 per share on BSE. If we talk about the performance of the company's shares, then in the last one year, the stock has given a positive return of 43.77 percent. From April this year till now, the company's shares have risen by 41.18 percent.