New Delhi: Tech Mahindra, a leading IT services company, announced a remarkable 153.1 percent year-on-year increase in its consolidated net profit for the July-September quarter, reaching Rs 1,250 crore. This marks a significant jump from the Rs 493.9 crore posted during the same period last year.
Tech Mahindra's revenue increased by 3.49 percent
The company's revenue for Q2 FY25 stood at Rs 13,313.2 crore, a 3.49 percent increase from Rs 12,863.9 crore in Q2 FY24. On a sequential basis, Tech Mahindra's profit surged by 46.81percent, while revenue grew by 2.36 percent.
Commenting on the results, CEO Mohit Joshi, who took the helm in December 2023, said the company’s strategic initiatives are bearing fruit despite a challenging IT services environment. "We have strengthened client relationships, expanded our partner ecosystem, and focused on operational excellence through Project Fortius, which has helped expand margins for the third consecutive quarter," Joshi stated. Launched in April 2024, Project Fortius is a three-year plan aimed at achieving a 15 percent operating margin through organic growth.
Strong performance in various areas
CFO Rohit Anand highlighted the firm's strong performance in areas such as deal wins, revenue growth, and cost optimization, contributing to steady free cash flow generation. Tech Mahindra's board also announced an interim dividend of Rs 15 per share in line with its capital allocation policy. The company added 6,653 employees during the quarter, bringing its total workforce to 1,54,273.
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