TechM Q3 results: Net profit soars 92.6% to Rs 983 crore; key details
TechM Q3: Revenue in dollar terms came in at $1,567 million, down 1.3 per cent QoQ and 0.4 per cent YoY. In constant currency terms, revenue rose 1.2 per cent QoQ and 1.3 per cent YoY. Deal wins stood at $745 million.
- Jan 17, 2025,
- Updated Jan 17, 2025 4:24 PM IST
The Mohit Joshi-led Tech Mahindra Ltd (TechM) on Friday reported a 92.63 per cent year-on-year (YoY) rise in consolidated net profit at Rs 983.20 crore for the December quarter compared with Rs 510.40 crore in the same quarter last year.
Revenue from operations grew 1.4 per cent to Rs 13,285.60 crore compared with Rs 1,31,013 crore in the same quarter last year. Ebitda margin expanded 40 basis points (bps) QoQ or 480 bps YoY to 13.6 per cent. Ebit margin stood at 10.2 per cent against 9.6 per cent in Q2 and 5.4 per cent in Q3FY24, the IT firm informed stock exchanges.
Revenue in dollar terms came in at $1,567 million, down 1.3 per cent QoQ and 0.4 per cent YoY. In constant currency terms, revenue rose 1.2 per cent QoQ and 1.3 per cent YoY. The IT major announced deal wins to the tune of $745 million. This was higher than Rs 603 million deal wins in the September quarter and $381 million deal wins in the same quarter last year. The number of over 10 million clients fell to 104 from 109 sequentially.
Chief Executive Officer and Managing Director, Joshi, said: “We see an improved rate of deal wins in our key verticals and priortised markets. 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.”
“We delivered growth in EBIT margin and operating PAT, both on a sequential and year-on-year basis, resulting from our targeted actions under Project Fortius, along with steady increase in new deal wins, across prioritised verticals and markets. Our continued focus on optimising working capital management has resulted in generation of robust free cashflow,” Chief Financial Officer Rohit Anand said.
TechM said its total headcount at the end of the quarter stood at 1,50,488, down 3,785 sequentially and up 4,238 YoY
LTM IT attrition came in at 11.2 per cent. Days of sales outstanding stood at 88 days, down six days QoQ, down three days YoY. Cash and Cash Equivalent at the end of the quarter stood at Rs 6,841 crore.
The Mohit Joshi-led Tech Mahindra Ltd (TechM) on Friday reported a 92.63 per cent year-on-year (YoY) rise in consolidated net profit at Rs 983.20 crore for the December quarter compared with Rs 510.40 crore in the same quarter last year.
Revenue from operations grew 1.4 per cent to Rs 13,285.60 crore compared with Rs 1,31,013 crore in the same quarter last year. Ebitda margin expanded 40 basis points (bps) QoQ or 480 bps YoY to 13.6 per cent. Ebit margin stood at 10.2 per cent against 9.6 per cent in Q2 and 5.4 per cent in Q3FY24, the IT firm informed stock exchanges.
Revenue in dollar terms came in at $1,567 million, down 1.3 per cent QoQ and 0.4 per cent YoY. In constant currency terms, revenue rose 1.2 per cent QoQ and 1.3 per cent YoY. The IT major announced deal wins to the tune of $745 million. This was higher than Rs 603 million deal wins in the September quarter and $381 million deal wins in the same quarter last year. The number of over 10 million clients fell to 104 from 109 sequentially.
Chief Executive Officer and Managing Director, Joshi, said: “We see an improved rate of deal wins in our key verticals and priortised markets. 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.”
“We delivered growth in EBIT margin and operating PAT, both on a sequential and year-on-year basis, resulting from our targeted actions under Project Fortius, along with steady increase in new deal wins, across prioritised verticals and markets. Our continued focus on optimising working capital management has resulted in generation of robust free cashflow,” Chief Financial Officer Rohit Anand said.
TechM said its total headcount at the end of the quarter stood at 1,50,488, down 3,785 sequentially and up 4,238 YoY
LTM IT attrition came in at 11.2 per cent. Days of sales outstanding stood at 88 days, down six days QoQ, down three days YoY. Cash and Cash Equivalent at the end of the quarter stood at Rs 6,841 crore.