New Delhi: IT services company Tech Mahindra on Saturday reported a 153.1% annual increase in consolidated net profit to Rs 1,250 crore in the July-September quarter.
The Mahindra Group of Companies’ net profit in the same period last year was Rs 493.9 billion. According to regulatory filings, revenue in Q2 FY25 was Rs 13,313.2 crore, which was 3.49% higher than Rs 1,2863.9 in Q2 FY24.
On a month-on-month basis, profits and revenue grew by 46.81% and 2.36% respectively. “While the overall IT services industry remains weak, we continue to drive strategic improvements.
Tech Mahindra CEO Mohit Joshi said, “Our focus on strengthening customer relationships and expanding our partner ecosystem while maintaining operational excellence through the Fortius program resulted in margin expansion in the third quarter.”
Josh took over as CEO in December 2023 and in April launched Project Fortius, a three-year plan to achieve 15% operating margins with a focus on organic growth.
“This quarter, as we continue to achieve our fiscal 2027 stated goals, we saw consistent performance in deal wins, revenue growth, cost optimization and stable free cash flow generation. In line with our capital allocation policy, the Board of Directors has announced a distribution Interim dividend of Rs 15 per share,” Tech Mahindra chief financial officer Rohit Anand said.
The Pune-based company added 6,653 employees during the quarter, taking the headcount to 1,54,273. Tech Mahindra shares closed at Rs 1,688 apiece on the BSE on Friday, down 0.68 per cent from its previous closing price.