Tech Mahindra Q3 results: Net profit rose 4.5% to Rs 1,369 crore

Tech Mahindra on Tuesday reported a 4.5 percent year-on-year (YoY) increase in its consolidated net result for the October-December quarter of Rs 1,369 crore. On a quarter-on-quarter (QoQ) basis, profits were higher by 2.2 per cent.

The company’s revenue increased 18.7 percent YoY and 5.2 percent QoQ to Rs 11,451 crore, while earnings before interest, tax, depreciation and amortization (EBITDA) increased 8.7 percent YoY and 2.2 percent QoQ to Rs 2,060 crore.

The EBITDA margin decreased to 18 percent in the quarter under review from 19.6 percent in the quarter the year before and 18.3 percent in the previous quarter.

Tech Mahindra’s employees were 1,45,067 at the end of the December quarter, an increase of 3,874 QoQ. The wear and tear was 24 percent in the quarter against 21 percent in the previous quarter and 12 percent in the quarter the year before.

The company said its cash and cash equivalents stood at $ 134.58 crore per share. December 31, 2021.

Commenting on the results, Tech Mahindra MD and CEO CP Gurnani said: “” Our people-first approach combined with sustained value creation this quarter reflects our commitment to redefining opportunities and competencies in the new normal. We continue to strengthen our presence, deliver broad-based profitable growth and value for our customers, backed by future-ready talent and digital niche opportunities. “

The company continues to transform its activities and add new opportunities. Its focus on operating efficiency and investments for the future will help drive exponential value creation in the long run, said CFO Milind Kulkarni.

Shares of Tech Mahindra closed 1.87 percent higher at Rs 1,507.05 on the BSE on Tuesday.

Also read: Budget 2022 Live Updates: LIC disinvestment this year, says FM Sitharaman

Read also: Budget 2022: Will RBI’s blockchain-driven digital currency be a game changer?

Give a Comment