Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
STOCK MARKET

Tech Mahindra Records PAT of Rs 1,297 Crore in Q3 FY23

On BSE, Tech Mahindra's shares dropped 3.49%.

On a consolidated basis, the net profit of the IT major hit a high marginally to Rs 1,296.6 crore in the Oct-Dec quarter of FY23 as against Rs 1,285.4 crore posted in the July-September quarter of FY23.

Revenue from operations grew 4.61% quarter on quarter (QoQ) to Rs 13,734.6 crore in Q3FY23.

On a yearly basis, the company’s net profit declined 5.25% while revenue jumped 19.94% in the Oct-Dec quarter of FY23.

EBITDA stood at Rs 2,144 crore in Q3 FY23, up 8.1% QoQ and up 4.1% YoY. EBITDA margin was at 15.6% in the Oct-Dec quarter of FY23 as against 15.1% in the July-September quarter of FY23 and 18% in 

The IT firm secured net new deals worth $795 million in the Oct-Dec quarter of FY23 as against $716 million in the July-September quarter of FY23 and $704 million in the Oct-Dec quarter of FY22.

The total headcount was at 157,068, down 4.2% QoQ. The last twelve-month (LTM) IT attrition rate reduced to 17% in the Oct-Dec quarter of FY23 from 20% in the July-September quarter of FY23 and 24% in the Oct-Dec quarter of FY22.

The company is to focus on leveraging next-generation technologies, which include 5G, cybersecurity, blockchain, artificial intelligence etc., to enable end-to-end digital transformation for global customers.

On BSE, Tech Mahindra’s shares dropped 3.49% to Rs 1,000.

Get Daily Prediction & Stocks Tips On Your Mobile