IT major Tech Mahindra, on 25 October, announced its quarterly earnings for July-September.

The company reported a 61.1% year-on-year (YoY) decline in its net profit at Rs 505.3 crore for the quarter under review against the Rs 1,299.2 crore reported in the same quarter of the previous fiscal year.

The consolidated revenue from operations of the company saw a decline of 1.98% YoY to Rs 12,864 crore against the Rs 13,127 crore reported in the year-ago quarter.

The EBIT margin of the company stood at 4.7% against the 6.8% reported in the previous quarter of the current fiscal year.

The company incurred a total expense of Rs 12,504.3 crore for Q2FY24, which is a 6.5% YoY increase from Rs 11,740.5 crore reported in the corresponding quarter of the previous fiscal year.

As of 30 September 2023, the company’s total headcount stands at 150,604, which has declined from 163,912 reported during the year-ago quarter.

The company has also announced an interim dividend of Rs 12 per share for the current financial year and has fixed 2 November as the record date for determining the members entitled to receive the interim dividend and 21 November as the date to pay the dividend to its equity shareholders.