Tech Mahindra posts strongest December quarter in three years

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Tech Mahindra demonstrated sufficient progress in its turnaround initiative through the December quarter, logging its strongest performance in three years, paced by the largest number of deal wins since 2020 and fatter margins. The stock surged ahead of the earnings.

The Mahindra Group’s IT services arm reported 14.14% growth in net profit on-year to Rs 1,122 crore for September-December period, but profit declined 6.11% sequentially, weighed down by one-time expenses of Rs 272 crore related to labour code implementation. Barring the exceptional…



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Tech Mahindra posts strongest December quarter in three years



Tech Mahindra demonstrated sufficient progress in its turnaround initiative through the December quarter, logging its strongest performance in three years, paced by the largest number of deal wins since 2020 and fatter margins. The stock surged ahead of the earnings.

The Mahindra Group’s IT services arm reported 14.14% growth in net profit on-year to Rs 1,122 crore for September-December period, but profit declined 6.11% sequentially, weighed down by one-time expenses of Rs 272 crore related to labour code implementation. Barring the exceptional…



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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