Tech Mahindra Q3 Results: Tech Mahindra reported a net profit of ₹983.2 crore at the consolidated level for the quarter ended December 2024 (Q3FY25), which marked an increase of 92.6% compared to ₹510.4 crore posted in the year-ago quarter.
Tech Mahindra's revenues from operations during the December quarter came at ₹13,285.6 crore. The revenues increased by 1.01% compared to ₹13,001.3 crore reported by the company during Q3FY24 or the December 2023 quarter.
In constant currency (CC) terms, Tech Mahindra said that its revenue grew by 1.2% QoQ and 1.3% YoY.
In dollar terms, the PAT came in at $116 million.
While the revenue growth was tepid, it was the strong improvement in the operating performance that led to a rise in earnings.
The earnings before interest tax depreciation and amortisation (Ebitda) for Tech Mahindra during Q3 came in at ₹1,809 crore, up 3.4% sequentially and 57.8% YoY.
In dollar terms, reported Ebitda stood at $213 million, an improvement of 2.0% sequentially and 54.7% YoY.
Among the segments, while the larger IT segment saw revenue at ₹11,146.4 crore, it was marginally lower than ₹11,183.4 crore. However, the segment's operating profit at ₹2139.2 crore witnessed a two-fold growth compared to ₹830 crore in the year-ago quarter.
New Deals TCV (total contract value) grew by 95.4% YoY to $745 million during the quarter as per a release shared by Tech Mahindra.
Mohit Joshi, Chief Executive Officer and Managing Director, Tech Mahindra, said, “We see an improved rate of deal wins in our key verticals and prioritised 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.”
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