Tech Mahindra Q3 net profit falls 60% to ₹510 cr

IT major Tech Mahindra on Wednesday reported a 60% decline in net profit at ₹510.4 crore in the quarter ending in December 2023.

The Mahindra group company had reported a net profit of ₹1,296.6 crore in the year-ago period and ₹493.9 crore in the quarter-ago period.

The revenue from operations of the company came down 4% year-on-year from ₹13,734.6 crore in the third quarter of financial year 2023 to ₹13,101.3 crore.

There was also a sharp decline in the operating profit of Tech Mahindra, with the margin dropping to 5.4% from the 12% in the year-ago period.

Earlier today, ahead of the announcement of the results, shares of Tech Mahindra company closed at a high of 3.09% at ₹1,407.75 apiece on the Bombay Stock Exchange.

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News / Business / Tech Mahindra Q3 net profit falls 60% to ₹510 cr

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