{"id":36549,"date":"2024-04-27T00:24:49","date_gmt":"2024-04-27T00:24:49","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/27\/tech-mahindra-q4-net-profit-down-41-to-rs-661-crore-revenue-tanks-6-2\/"},"modified":"2024-04-27T00:24:49","modified_gmt":"2024-04-27T00:24:49","slug":"tech-mahindra-q4-net-profit-down-41-to-rs-661-crore-revenue-tanks-6-2","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/27\/tech-mahindra-q4-net-profit-down-41-to-rs-661-crore-revenue-tanks-6-2\/","title":{"rendered":"Tech Mahindra Q4 net profit down 41% to Rs 661 crore; revenue tanks 6.2%"},"content":{"rendered":"
\"Tech<\/div>


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Tech Mahindra<\/a>, country’s fifth largest IT services<\/a> firm, reported a decline in net profit<\/a> of 40.9% year-on-year (YoY)
to Rs 661 crore primarily driven by slowdown in its telecom, communications<\/a>, media and entertainment business, which is its largest vertical with 36.5% market share.
The profit stood at Rs 1,118 crore in last year’s March quarter. Sequentially, profit grew 29.6% from Rs 510 crore in the December quarter because of a one-off gain. The Pune-headquartered firm\u2019s consolidated revenue<\/a> from operations fell 6.2% YoY to Rs 12,871.30 crore from Rs 13,718 crore in March quarter of FY23. Sequentially, it dipped by 1.7% from Rs 13,101 crore in the preceding quarter.<\/p>\n
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\u201cQ4 (FY24) marks the low point in our year-on-year growth trajectory. We are confident from Q1 (FY25) will see an
improvement. There, however, will be volatility between quarters,\u201d said CEO Mohit Joshi.<\/p>\n

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Discover the stories of your interest<\/h3>\n<\/div>\n
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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tech Mahindra, country’s fifth largest IT services firm, reported a decline in net profit of 40.9% year-on-year (YoY)to Rs 661 crore primarily driven by slowdown in its telecom, communications, media and entertainment business, which is its largest vertical with 36.5% market share.The profit stood at Rs 1,118 crore in last year’s March quarter. Sequentially, profit […]<\/p>\n","protected":false},"author":2,"featured_media":36550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/88591548.cms","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[24842,1955,13295,12761,2111,34620,498,2891,6444,2416,12756],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/36549"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=36549"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/36549\/revisions"}],"predecessor-version":[{"id":36551,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/36549\/revisions\/36551"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/36550"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=36549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=36549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=36549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}