Tech Mahindra’s fourth quarter net profit soars 76% to Rs 1,167 crore

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Tech Mahindra saw tariff-related uncertainties delaying a large hi-tech sector deal renewal in the fourth quarter when the Mahindra Group company reported nearly flat sequential revenue growth, in line with India’s IT industry performance.

However, net profit jumped 76.5% from a year earlier to Rs 1,167 crore, benefitting from margin expansion and a reduction in tax. Sequentially, net profit grew 18.7%.

Revenue at Rs 13,384 crore grew 4% from a year earlier, but only 0.7% from the third quarter, hurt by weakness in North America, the largest region…



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Tech Mahindra’s fourth quarter net profit soars 76% to Rs 1,167 crore


Tech Mahindra saw tariff-related uncertainties delaying a large hi-tech sector deal renewal in the fourth quarter when the Mahindra Group company reported nearly flat sequential revenue growth, in line with India’s IT industry performance.

However, net profit jumped 76.5% from a year earlier to Rs 1,167 crore, benefitting from margin expansion and a reduction in tax. Sequentially, net profit grew 18.7%.

Revenue at Rs 13,384 crore grew 4% from a year earlier, but only 0.7% from the third quarter, hurt by weakness in North America, the largest region…



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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