Tech Mahindra's Profits Surge as New Deals Flourish
Tech Mahindra reported a 14.11% increase in profit to Rs 1,122 crore in the December quarter, fueled by robust new deals of USD 1.096 billion. The company's revenue rose to Rs 14,393 crore, and the operating profit margin widened to 13.1%. Attrition was at 12.3%, with headcount at 1,49,616.
- Country:
- India
IT services firm Tech Mahindra has posted a 14.11% rise in profit for the December quarter, reaching Rs 1,122 crore. This growth is attributed to substantial new deals totaling USD 1.096 billion, according to CEO Mohit Joshi.
The company's revenue also saw a notable increase, up to Rs 14,393 crore from Rs 13,286 crore in the same quarter last year. Despite certain challenges, the operating profit margin expanded to 13.1%, driven by enhanced pricing and automation, CFO Rohit Anand stated.
Tech Mahindra ended the quarter with a total headcount of 1,49,616 and an attrition rate of 12.3%. The financial outlook remains strong, with the company's stock rising by 5.17% on the BSE following the earnings announcement.
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