Tech Mahindra's Impressive Q1 Results: Profit Surges by 23%

Tech Mahindra has reported a 23% increase in consolidated profit after tax, amounting to Rs 851 crore for the June 2024 quarter. Despite a 1.2% year-on-year decline in revenue to Rs 13,005 crore, the company's operating profit margins increased to 12%. Employee headcount also rose significantly by 2,165.

IT services giant Tech Mahindra announced on Thursday a significant boost in its consolidated profit after tax, reporting a 23% increase to Rs 851 crore for the June 2024 quarter.

Despite this, the company's revenue experienced a 1.2% decline year-on-year, settling at Rs 13,005 crore. However, on a quarter-on-quarter basis, revenue rose by 1%.

In positive news, the company's operating profit margins also expanded by 1.90%, reaching 12%. Additionally, the total employee headcount saw an increase of 2,165, bringing the total workforce to 1.47 lakh.