Tech Mahindra's Resilient Performance Amidst Global Economic Challenges

Tech Mahindra reported a 4.44% decline in net profit for the September quarter, primarily due to economic challenges in the Americas, while revenue saw an increase. The company secured significant new deals despite a decline in employee headcount and announced a Rs 15 interim dividend per share.

IT giant Tech Mahindra recorded a 4.44% drop in net profit for the September quarter, totalling Rs 1,194.5 crore, compared to Rs 1,250 crore from the previous year's corresponding period.

Despite the dip in profit, the company's revenue rose to Rs 13,995 crore from Rs 13,313 crore year-on-year, driven by improved productivity and currency benefits.

In the face of a 2% revenue decline in the Americas, CEO Mohit Joshi remains optimistic about the latter half of the year, citing stabilisation albeit fragile macro conditions.

(With inputs from agencies.)