Tech Mahindra, an IT and digital solutions provider, reported a 21.4 per cent drop in net profit at Rs 988 crore (quarter-on-quarter) in the October-December period of FY25, from Rs 1,257 crore in the same quarter last fiscal.
The company also reported 3.8 per cent decline (quarter-on-quarter) in revenue at Rs 13,300 crore, from Rs 13,835 crore in the same period last fiscal, according to its filing with stock exchanges.
Total headcount at the end of the quarter stood at 150,488, down 3,785 on the quarterly basis.
"We see an improved rate of deal wins in our key verticals and priortised markets", according to Mohit Joshi, Chief Executive Officer and Managing Director, Tech Mahindra.
"This coupled with consistent expansion in operating margins, despite cross-currency headwinds during the quarter, reaffirms that we are on track to achieve our long-term goals", said Joshi.
Rohit Anand, Chief Financial Officer, Tech Mahindra, said, "We have delivered growth in EBIT margin and operating PAT, both on a sequential and year-on-year basis, as a result of our targeted actions under Project Fortius, along with steady increase in new deal wins, across prioritised verticals and markets."
"Our continued focus on optimizing working capital management has resulted in generation of robust free cash flow," Anand said.
During the quarter, Tech Mahindra was chosen by a major German Telco to support its technology domains across Network, IT, and service operations, driving autonomous operations using GenAI that is driving modernization of operating technology domains through establishment of a focused operations excellence centre.
Tech Mahindra won a managed services deal from leading European auto-maker supporting their IT landscape, covering every aspect of their business operations through ADMS capabilities and Cloud and Infra Services.
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