Tech Mahindra Q2 Profit Up by 60 Percent

Indian auto industries have been hit hard and so too airlines and other industries but Tech Mahindra has witnessed 60 percent rise in net profit.

Tech Mahindra, India's fifth largest software services company, on Tuesday said that net profit for the quarter to end-September rose 60 percent from a year ago to 2.4 billion rupees ($47.7 million).

Last week, Mahindra Satyam, which Tech Mahindra bought in 2009, saw net profit for the quarter beat estimates but warned the euro zone debt crisis could dent demand for India's flagship outsourcing sector.