Tech Mahindra posted 1.2% constant currency revenue growth on a sequential basis for the December quarter of FY23. Revenue in Dollar terms was recorded at $1,567 million. This translated into Rupee revenue worth ₹13,286 crore on a sequential basis for the last quarter.
Correspondingly, there is a net profit of ₹983 crore – 21.4% lower as compared to its Q2 FY23 number of ₹1,250 crore. EBIT for the quarter rose 5.4% to ₹1,350 crore from ₹1,280.4 crore in the September quarter. EBIT margin expanded to 10.2% from 9.6% in the previous quarter due to operational efficiency.
Tech Mahindra added net new deal wins worth $745 million during the quarter, indicative of growth across key verticals. CEO Mohit Joshi pointed to better deal wins in focus markets and sustained operating margin expansion despite cross-currency headwinds. CFO Rohit Anand highlighted accelerated free cash flow generation, along with growth in both EBIT margins and operating PAT, supported by initiatives under Project Fortius. The company remains focused on optimizing working capital management and expanding deal wins across core sectors and markets.
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