Mumbai . Veteran IT company Tech Mahindra has earned a consolidated profit of Rs 1250 crore in the September quarter of the current financial year.
It has seen an increase of 153.1 percent on annual basis and 46.8 percent on quarterly basis. The company gave this information regarding its profits on Saturday.
Tech Mahindra earned revenue of Rs 13,313 crore in the second quarter of this financial year, up 2.4 percent quarter on quarter and 3.5 percent year on year.
At the end of the quarter, Tech Mahindra reported its total employee count at 154,273, which is 6,653 more on a quarterly basis and 3,669 more on a yearly basis.
Cash and cash equivalents (CCE) at the end of the quarter stood at Rs 6,566 crore and the company declared an interim dividend of Rs 15 per share.
Mohit Joshi, CEO and Managing Director, Tech Mahindra, said, “We are moving forward with our strategic reform efforts even as the IT services industry remains subdued.
We are focused on strengthening client relationships and expanding the partner ecosystem. We focused on adopting strategic measures. “This has resulted in margin expansion for the third consecutive quarter.”
During the quarter, Tech Mahindra announced a strategic partnership to drive the adoption of Generative AI (GenAI) and lead digital transformation for various Mahindra & Mahindra entities.
Tech Mahindra Chief Financial Officer Rohit Anand said the company continued to perform well in terms of deal closing, revenue growth, cost optimization and stable free cash flow generation. We are on the path to achieving the declared targets for financial year 2027.”
“In line with our capital allocation policy, the board has declared an interim dividend of Rs 15 per share,” he said.
Tech Mahindra has announced the launch of 'TechM VerifyAI' to verify and validate the outcomes of AI and GenAI projects. With this launch, the IT company will help major industries with AI based projects. So that they can complete their AI related plans faster.
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Image Credit: KhasKhabar.