Tech Mahindra Q3 results: Profits Rises 93% To Rs 983 Crore

IT and Consulting giant firm, Tech Mahindra announced the Q3 results ending on December 31, 2024. The company held the meeting today.

 “approved the Audited Consolidated and Standalone Financial Results of the Company for the third quarter and nine months ended 31st December 2024 together with the unmodified Audit Reports thereon” as per the exchange filing. 

Tech Mahindra: Q3 Profit

Tech Mahindra recorded a net profit of ₹983.2 crore at consolidated level for the quarter ended December 2024, a 92.6% rise from ₹510.4 crore in the year previous quarter. Tech Mahindra's December Quarter (Q3FY25) revenue was ₹13285.6 crore. Revenues grew by 1.01% from ₹13001.3 Crore reported in Q3FY24 (December 2023).

Tech Mahindra: YOY Revenue

Tech Mahindra said that its revenue increased by 1.2% quarter on quarter and 1.3% year on year in constant currency terms. Tech Mahindra reported a profit after tax (PAT) of $116 million. According to Tech Mahindra's press release, the operational net profit increased by 9.9% sequentially and 88.5% year-on-year.

Tech Mahindra: Key Decisions

During the nine-month period ended December 31, 2024, 20,28,551 shares of Rs 5/- each fully paid,  allotted upon exercise of the vested stock options pursuant to the Company's Employee Stock Option Schemes resulting in an increase in the paid-up share capital by Rs. 10 Million and securities premium by Rs. 66 Million. 

Other income for the nine-month period ended December 31, 2024, includes gain on the sale of property of Rs. 4,502 Million which comprises freehold land and its related buildings along with the furniture & fixtures sold for a consideration of Rs. 5,350 Million, receivable over a period of 4 years along with interest of 8.2% p.a.