IT services firm Tech Mahindra on Saturday reported a 153.1 per cent year-on-year jump to ₹1,250 crore in its consolidated net profit for the July-September quarter.
The Mahindra Group company had posted a net profit of ₹493.9 crore in the year-ago period.
Revenue for Q2 FY25 came in at ₹13,313.2 crore, 3.49 per cent higher than ₹12,863.9 per cent in Q2 FY24, according to a regulatory filing.
Seen sequentially, profit and revenue saw an ascent of 46.81 per cent and 2.36 per cent, respectively.
"We continue to progress on our strategic improvement efforts even as the overall IT services industry has remained soft. We have focused on strengthening client relationships and expanding the partner ecosystem while maintaining a sharp focus on operational excellence through project Fortius, which has resulted in an expansion of margins for the third sequential quarter," Tech Mahindra CEO Mohit Joshi said.
Joshi, who took over as CEO in December 2023, unveiled Project Fortius in April, a three-year plan to achieve a 15 per cent operating margin with a focus on organic growth.
"This quarter, we see consistent performance around increasing deal wins, revenue growth, cost optimisation and steady free cash flow generation as we continue our journey towards FY27 stated targets. In line with our capital allocation policy, the board has declared an interim dividend of ₹15 per share," Tech Mahindra CFO Rohit Anand said.
The Pune-headquartered firm added 6,653 employees during the quarter under review, bringing the total staff count to 1,54,273.
The Tech Mahindra scrip settled at ₹1,688 apiece on the BSE on Friday, down 0.68 per cent from the previous close.
- Also read: Persistent unveils SASVA 2.0: Transforming AI-driven software development and business acceleration
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.