Tech Mahindra Records Stunning 92.6% Profit Surge in Q4 Amid Strategic Innovations

Tech Mahindra posts a staggering 92.6% increase in net profit to Rs 983 crore for the October-December quarter, alongside strategic launches like TechM agentX to boost enterprise efficiency globally. Despite nominal revenue growth, the company's innovative strides reaffirm its path toward long-term goals.

Tech Mahindra, a leader in technology consulting and digital solutions, has announced a significant leap in its consolidated net profit, marking a 92.6% increase to Rs 983 crore during the October-December quarter. In comparison, the company had reported a net profit of Rs 510 crore during the same period last fiscal year. The audited financial results for the quarter ending December 31, 2024, were released on Friday.

Despite this impressive profit growth, the company's revenue experienced a modest rise of just 1.4% annually, reaching Rs 13,286 crore. Meanwhile, EBITDA showed a substantial year-on-year growth of 57.8%, amounting to Rs 1,809 crores. The total workforce at the close of the quarter was 150,488, a decrease of 3,785 from the previous quarter but a yearly increase of 4,238 employees.

CEO and Managing Director Mohit Joshi emphasized the company's improved rate of deal wins in key sectors and prioritized markets, aligning with their long-term objectives despite facing cross-currency challenges. Rohit Anand, the Chief Financial Officer, highlighted the initiatives under Project Fortius, which boosted operating PAT and EBIT margins both sequentially and annually. With the introduction of TechM agentX, a GenAI-powered automation suite, the company aims to enhance global enterprise efficiency, targeting productivity improvements by up to 70%.

(With inputs from agencies.)