New Delhi . IT and digital solutions provider company Tech Mahindra's profit has fallen by 21.4 percent to Rs 988 crore in the third quarter of FY25, which was Rs 1,257 crore in the previous quarter.
According to stock exchange filings, the company's income declined 3.8 percent to Rs 13,300 crore in the OctoberDecember period from Rs 13,835 crore in the previous quarter.
Tech Mahindra's employee count declined by 3,785 to 1,50,488 in the third quarter.
“We are seeing an improvement in the rate of new deal wins in our key sectors and priority markets,” said Mohit Joshi, chief executive officer and managing director, Tech Mahindra.
Joshi further said, “Despite the challenges in constant currency, the company's operating margin has expanded in the third quarter and we are on track to achieve our longterm goals.”
Rohit Anand, Chief Financial Officer, Tech Mahindra, said the company has recorded growth in EBIT margins and operating profits on a sequential and yearonyear basis, driven by our taking targeted actions under Project Fortius and winning new deals in priority sectors and markets. The result of continuous growth.
In the quarter, Tech Mahindra has been selected by a large German telco to support its technology domain across network, IT and service operations.
Tech Mahindra also won a managed services deal from a leading European automaker to support its IT landscape by leveraging ADMS and cloud and infra services capabilities covering every aspect of its business operations.
Tech Mahindra shares closed 1.78 per cent lower at Rs 1,657.65 on Friday.
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Image Credit: KhasKhabar.