Tech Mahindra on Monday reported a consolidated net profit of ₹1,297 crore for the December quarter of FY23, down 5.3 per cent from ₹1,368 crore posted in the year-ago quarter. Sequentially, the net profit was stable, rising 0.008 per cent from ₹1,285 crore in Q2.
Revenue from operations came in at ₹13,735 crore, rising 19.9 per cent (₹11,450 crore). EBITDA for the quarter came in at ₹2,144 crore, up 4.1 per cent y-o-y and 8.1 per cent q-o-q.
‘Moderation in growth’
“We are witnessing moderation in growth given the tough macroeconomic environment. We will continue to work with our customers to pre-empt their technological requirements and identify new demand drivers, especially for digital services,” CP Gurnani, MD & CEO, said.
Net new deal wins for the quarter came in at $795 million, higher than $704 million in the year-ago period. Attrition moderated to 17 per cent from 20 per cent in Q2 FY23 and 24 per cent in Q3 FY22.
Creating value
“Our numbers reflect resilience as we continue to work on the expansion of operating margin. I am confident that our strategy of client centricity and agility combined with delivery-led transformation will help us create value for our customers and stakeholders alike,” Rohit Anand, CFO, said.
As of December end, the total headcount in the company stood at 157,068, down 4.2 per cent q-o-q and up 8.3 per cent y-o-y.