Tech Mahindra Q3 profit down 5% YoY on weak macro environment; revenue jumps 20%

Tech Mahindra has reported an almost 5% slump in quarterly profit on Monday, hit by weak macro economic environment.

Advertisment

1/38

2/38

3/38

4/38

5/38

6/38

7/38

8/38

9/38

10/38

11/38

12/38

13/38

14/38

15/38

16/38

17/38

18/38

19/38

20/38

21/38

22/38

23/38

24/38

25/38

26/38

27/38

28/38

29/38

30/38

31/38

32/38

33/38

34/38

35/38

36/38

37/38

38/38

The Mahindra group company released its numbers post market hours today.

The information technology services company's consolidated net profit came in at ₹1,296.6 crore, down 5% YoY for the quarter ended 31 December, 2022.

The company had posted ₹1,368.5 crore profit in the year-ago period.

Tech Mahindra's revenue from operations came in at ₹13,734.6 crore for the third quarter under review, up 20% year-on-year and 4.6% quarter-on-quarter.

The IT company has reported an EBITDA (earnings before interest, tax, depreciation and amortisation) at ₹2,144 crore, up 8.1% QoQ and 4.1% on-year.

The company's total headcount stands at 157,068, down 4.2% 000.

On Monday, Tech Mahindra shares rose 0.88% to settle at ₹1,039.20 apiece on the NSE.