Tech Mahindra net profit up 23% to Rs 851 cr

BENGALURU: Tech Mahindra on Thursday reported a 23% increase in its consolidated net profit at Rs 851.5 crore for the June quarter as against Rs 692.5 crore in the year-ago period. The company’s revenue from operations in the quarter stood at Rs 13,005 crore, down 1.2% YoY, compared to Rs 13,159 crore in the same quarter last year.

Mohit Joshi, chief executive officer and MD, Tech Mahindra, said, “It is encouraging to see positive momentum in most industry verticals which has led to revenue growth and margin expansion in an otherwise seasonally weak quarter. We continue to focus on execution and are on track to achieve our stated goals for FY27.”

The company’s EBITDA stood at Rs 1,564 crore, an increase of 16.9% YoY and its margin was at 12.0%, up 110 bps QoQ, 190 bps YoY.