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Harsha Jethmalani from The December quarter earnings of IT services provider Tech Mahindra Ltd were a beat on many counts. Consolidated net profit at ₹1,310 crore, up 23% quarter-on-quarter (q-o-q), was ahead of Bloomberg’s consensus estimate of ₹1,167.30 crore. Consolidated revenue at ₹9,647 crore, up 2.9% sequentially, also exceeded analysts’ estimate of ₹9,562 crore. In constant currency terms, sequential revenue growth was at 2.8%, largely in-line with expectations.
The December quarter earnings of IT services provider Tech Mahindra Ltd were a beat on many counts. Consolidated net profit at ₹1,310 crore, up 23% quarter-on-quarter (q-o-q), was ahead of Bloomberg’s consensus estimate of ₹1,167.30 crore. Consolidated revenue at ₹9,647 crore, up 2.9% sequentially, also exceeded analysts’ estimate of ₹9,562 crore. In constant currency terms, sequential revenue growth was at 2.8%, largely in-line with expectations.
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