Tech Mahindra share price jumps up to 1.6% as net profit surges 93% to ₹983 crore on low base

In the early trade, the stock was rose as much as 1.61% to ₹1,687.15 apiece on the National Stock Exchange. At 9:40 am, it was up 0.27% to ₹1,664.7 per share.

The company's market capitalisation stood at ₹1,62,938.68 crore.

Tech Mahindra Q3 net profit climbs 93%

Tech Mahindra's net profit skyrocketed 93% to ₹983 crore for the three-month period ended December 2024, compared to ₹510 crore in the corresponding period last fiscal year. In Q2 FY25, the post-tax profit stood at ₹1,250 crore.

The revenue from operations rose 1.4% to ₹13,286 crore in the quarter under review against ₹13,101.3 crore in the year-ago period. Sequentially, revenue declined 0.2%.

The company attributed the sequential dip due to cross-currency headwinds.

Mohit Joshi, chief executive officer and managing director of Tech Mahindra, said, "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."

The operating profit margin grew 10.2% in the December quarter. The CEO said it will continue to climb to 15% by FY27.

In Q3 FY25, the IT firm booked deals worth USD 745 million in the manufacturing and telecom sectors.

As of December 31, 2024, the company had more than 1.50 lakh employees. Rohit Anand, chief financial officer, said the company is on track to hire 6,000 freshers, and over 4,700 have been inducted already in the current fiscal year.