Tech Mahindra December Quarter Result: IT company Tech Mahindra’s net consolidated profit in the October-December 2024 quarter increased by 92 percent year-on-year to Rs 983.2 crore. According to the information given to the stock exchanges, the net profit of the company a year ago was Rs 510.4 crore. The company’s consolidated revenue from operations during the December 2024 quarter stood at Rs 13285.6 crore, a marginal increase of 1.4 percent compared to a year ago. It was Rs 13101.3 crore in the December 2023 quarter.
Tech Mahindra’s expenses declined 4 percent year-on-year to Rs 12011.3 crore in the December 2024 quarter, from Rs 12514.8 crore a year ago. The company’s total income was recorded at Rs 13302.1 crore, up from Rs 13188.8 crore in the December 2023 quarter.
Tech Mahindra shares declined on January 17. The price fell almost 2 percent to close at Rs 1658.85 on BSE. The market cap of the company is Rs 1.62 lakh crore. The stock has risen 25 percent in a year, while it is down about 3 percent in a week.
Rohit Anand, Chief Financial Officer, Tech Mahindra, said, ‘We have recorded growth in EBIT margin and operating profit on a quarterly and year-on-year basis. This is due to our targeted actions under Project Fortius. There has also been a steady increase in new deal wins in priority verticals and markets. ,