Tech Mahindra Q1 Results: Profit jumps 23% YoY to Rs 851 crore, misses estimates

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IT services company Tech Mahindra on Thursday reported 23% year-on-year (YoY) growth in its consolidated net profit at Rs 851 crore in the June quarter. The profit was slightly below the Street estimate of Rs 892 crore.Revenue from operations was down 1% YoY to Rs 13,005 crore in the April-June 2024 period.

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On a sequential basis, profit after tax increased 28% and revenue rose 1%.

The company has reported an EBITDA of Rs 1,564 crore, which is up about 17% YoY, while margins improved 190 basis points YoY to 12%.

Revenue for the quarter in constant currency terms declined 1.2% YoY, but was up 0.7% quarter-on-quarter.

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Tech Mahindra Q1 Results: Profit jumps 23% YoY to Rs 851 crore, misses estimates


IT services company Tech Mahindra on Thursday reported 23% year-on-year (YoY) growth in its consolidated net profit at Rs 851 crore in the June quarter. The profit was slightly below the Street estimate of Rs 892 crore.Revenue from operations was down 1% YoY to Rs 13,005 crore in the April-June 2024 period.

Elevate Your Tech Prowess with High-Value Skill Courses

Offering College Course Website
Indian School of Business ISB Product Management Visit
Indian School of Business Professional Certificate in Product Management Visit
IIT Delhi Certificate Programme in Data Science & Machine Learning Visit

On a sequential basis, profit after tax increased 28% and revenue rose 1%.

The company has reported an EBITDA of Rs 1,564 crore, which is up about 17% YoY, while margins improved 190 basis points YoY to 12%.

Revenue for the quarter in constant currency terms declined 1.2% YoY, but was up 0.7% quarter-on-quarter.

Discover the stories of your interest

More to come…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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