Tech Mahindra registers 92.6% rise in Q3 profits, revenue a marginal 1.4%
Tech Mahindra on Friday reported that its consolidated net profit during the October-December quarter rose 92.6 per cent to Rs 983 crore. In the same quarter of last fiscal, the company reported net profit worth Rs 510 crore.
ANI
Jan 17, 2025 19:09 IST
Chennai (Tamil Nadu) [India], January 17 (ANI): Tech Mahindra on Friday reported that its consolidated net profit during the October-December quarter rose 92.6 per cent to Rs 983 crore. In the same quarter of last fiscal, the company reported net profit worth Rs 510 crore.
The leading global provider of technology consulting and digital solutions to enterprises across industries announced the audited consolidated financial results for its quarter that ended December 31, 2024 today.
The company's revenue however rose by a mere 1.4 per cent on a yearly basis to Rs 13,286 crore.
Its EBITDA rose 57.8 per cent year-on-year to Rs 1,809 crores.
Total headcount at the end of the quarter was 150,488, down 3,785 on a quarterly basis, and up 4,238 on a yearly basis.
"We see an improved rate of deal wins in our key verticals and priortised markets. This coupled with consistent expansion in operating margins, despite cross-currency headwinds during the quarter, reaffirms that we are on track to achieve our long-term goals," Mohit Joshi, Chief Executive Officer and Managing Director, Tech Mahindra.
Tech Mahindra is part of the Mahindra Group, founded in 1945.
"We delivered growth in EBIT margin and operating PAT, both on a sequential and year-on-year basis, resulting from our targeted actions under Project Fortius, along with steady increase in new deal wins, across prioritised verticals and markets. Our continued focus on optimising working capital management has resulted in generation of robust free cashflow," said Rohit Anand, Chief Financial Officer, Tech Mahindra.
During the quarter, Tech Mahindra announced the launch of TechM agentX--a comprehensive suite of GenAI-powered solutions designed to drive intelligent automation and enhance efficiency for enterprises globally.
Through these solutions, enterprises can automate complex business, IT, and data tasks, improving productivity by up to 70 per cent. (ANI)
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