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Tech Mahindra Q4 Results: Profit Rises 27%, But Misses Estimates

The IT services firm's bottom line stood at Rs 664 crore in the fourth quarter.

Rucha Somaiya

Tech Mahindra Ltd.'s logo is seen on its office building. (Source: Company website)

Tech Mahindra Ltd.'s consolidated net profit increased 27% in the fourth quarter of fiscal 2024, but missed analysts' estimates.

The IT services firm's bottom line stood at Rs 664 crore in the quarter-ended March 31, 2024, according to an exchange filing on Thursday. Analysts tracked by Bloomberg had projected it at Rs 745 crore.

Tech Mahindra Q4 FY24 Highlights (Consolidated, QoQ)

  • Revenue down 1.8% to Rs 12,871 crore (Bloomberg estimate: Rs 12,957 crore).

  • EBIT down 9% to Rs 638 crore (Estimate: Rs 965 crore).

  • EBIT margin at 7.5% versus 5.36% (Estimate: 7.4%).

  • Net profit up 27% at Rs 664 crore (Estimate: Rs 745 crore).

Also Read: Meta's Miss Sparks Fear In Tech World With More Earnings Ahead

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