Chennai (Tamil Nadu) [India]: Tech Mahindra, a leading global provider of technology consulting and digital solutions, reported a significant 92.6% rise in consolidated net profit for the October-December 2024 quarter, reaching ₹983 crore. This is a sharp increase compared to ₹510 crore recorded in the same period last fiscal.
The company released its audited consolidated financial results for the quarter ending December 31, 2024, highlighting a modest 1.4% year-on-year rise in revenue, totaling ₹13,286 crore. The EBITDA grew by 57.8% year-on-year, reaching ₹1,809 crore.
Despite the profit surge, the company’s total headcount stood at 150,488, reflecting a reduction of 3,785 employees from the previous quarter but a yearly increase of 4,238.
“We see an improved rate of deal wins in our key verticals and prioritized markets. This, coupled with consistent expansion in operating margins despite cross-currency headwinds during the quarter, reaffirms that we are on track to achieve our long-term goals,” said Mohit Joshi, CEO and Managing Director of Tech Mahindra.
The company’s CFO, Rohit Anand, emphasized the effectiveness of targeted initiatives like Project Fortius, which contributed to growth in EBIT margins and operating profit after tax (PAT). “Our continued focus on optimizing working capital management has resulted in robust free cash flow generation,” Anand added.
During the quarter, Tech Mahindra launched TechM agentX, a suite of GenAI-powered solutions aimed at driving intelligent automation for enterprises. These solutions are designed to streamline complex business, IT, and data tasks, enhancing global productivity by up to 70%.
Tech Mahindra, part of the Mahindra Group founded in 1945, continues to prioritize innovation and operational efficiency in its strategic roadmap.