SOURCE : NEW18 NEWS
Last Updated:January 17, 2025, 16:25 IST
Tech Mahindra Q3 Results: It reports a strong 92.63 per cent year-on-year growth in its consolidated profit to Rs 983 crore for the third quarter ended December 31, 2024.
Tech Mahindra Q3 Results.
Tech Mahindra Q3 Results: IT major Tech Mahindra Ltd on Friday reported a strong 92.63 per cent year-on-year (YoY) growth in its consolidated profit to Rs 983 crore for the third quarter ended December 31, 2024. Its revenue during October-December 2024 grew 1.4 per cent YoY to Rs 13,286 crore.
On a quarter-on-quarter basis, Tech Mahindra’s net profit falls 21 per cent. Its revenue slipped 0.2 per cent.
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Its Ebitda for the December 2024 quarter stood at Rs 1,809 crore, which is a 57.8 per cent rise as compared with Rs 1,146.5 crore in the year-ago quarter. On a QoQ basis, Ebitda rose by 3.4 per cent.
Rohit Anand, chief financial officer of Tech Mahindra, said, “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.”
Mohit Joshi, Chief Executive Officer and Managing Director, Tech Mahindra, said, “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.”
