Tech Mahindra Q3 Results: Net profit jumps 93% YoY to ₹983 crore, revenue up 1.4% to ₹13,286 crore

IT services company Tech Mahindra announced its financial results for the third quarter of the current fiscal year (Q3 FY25) today, January 17.

The company’s consolidated net profit for the reporting quarter grew 92.63% year-on-year (YoY) to ₹983.2 crore, as compared to ₹510.4 crore in the year-ago period. On a quarter-on-quarter (QoQ) basis, or sequentially, profit fell down by 21% to ₹1,250.1 crore.

Revenue of the company increased to ₹13,286 crore, rising 1.4% YoY in Q3 FY25. The revenue was down by 0.2% on a sequential basis.

“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," said Mohit Joshi, Chief Executive Officer and Managing Director, Tech Mahindra.

Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) of the company stood at ₹1,809 crore, increasing by 57.8% as compared to ₹1,146.5 crore posted in Q2 FY25.

The company’s manufacturing sector recorded a decline of 7.2% YoY and 3.7% QoQ, and its BFSI segment grew by 8.3% YoY and 0.4% QoQ.

Tech Mahindra's total headcount reduced to 150,488 at the end of the quarter, down 3,785 on a sequential basis. At the end of Q3 FY25, the headcount stood at 146,250.

Shares of the company closed 1.78% down at ₹1,657.65 on the NSE on Friday, January 17. The market capitalisation of the company stood at ₹1,62,248.64 crore at nearly 4 pm.

Tech Mahindra Q2 results

Tech Mahindra reported a net profit of ₹1,250 crore for the second quarter of the current fiscal (Q2 FY), growing by 153% year-on-year (YoY). The PAT profit climbed 46.8% on a sequential basis.

The company’s revenue for the quarter increased by 3.5% year-on-year to ₹13,313 crore. Sequentially, Tech Mahindra reported a 2.4% growth in revenue in Q2 FY25.