Tech Mahindra reports 92.6% jump in Q3 profit, marginal 1.4% growth in revenue
However, the company’s revenue grew a mere 1.4% year-on-year to Rs 13,286 crore. Its EBITDA grew 57.8% year-on-year to Rs 1,809 crore. The total headcount at the end of the quarter stood at 150,488, down 3,785 quarter-on-quarter and up 4,238 year-on-year.
Tech Mahindra on Friday reported that its consolidated net profit grew 92.6% to Rs 983 crore during the October-December quarter. The company had reported a net profit of Rs 510 crore in the same quarter of the previous fiscal. The leading global company providing technology consulting and digital solutions to enterprises across various industries today announced audited consolidated financial results for the quarter ended December 31, 2024.
However, the company’s revenue grew by just 1.4% year-on-year to Rs 13,286 crore. Its EBITDA grew 57.8% year-on-year to Rs 1,809 crore. The total number of employees at the end of the quarter was 150,488, down 3,785 quarter-on-quarter and up 4,238 year-on-year.
Tech Mahindra Chief Executive Officer and Managing Director Mohit Joshi said, “We are seeing an improvement in deal win rates across our key verticals and priority markets. This, along with a consistent expansion in operating margins despite cross-currency headwinds during the quarter, confirms that we are on the right track to achieve our long-term goals.” Tech Mahindra is part of the Mahindra Group, which was founded in 1945.
“We recorded an increase in EBIT margin and operating PAT on a sequential and year-on-year basis, resulting from our targeted actions under Project Fortius, as well as a steady increase in new deal wins across priority sectors and markets. Our continued focus on optimising working capital management has resulted in strong free cash flow generation,” 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%.
