Tech Mahindra Q3 results: Profit drops 5% to Rs 1,146 crore; margins fall by 310 bps

INSUBCONTINENT EXCLUSIVE:
Tech Mahindra on Friday posted 4.7 per cent year-on-year (YoY) fall in consolidated profit at Rs 1,145.9 crore for the quarter ended
December 31
Analysts in an ET NOW poll had projected the number at Rs 1,004.8 crore. Net revenue of the company during the quarter was at Rs 10,004.2
crore, up 10.85 per cent over Rs 9,024.3 in the same quarter a year ago
We continued to win marquee deals and are well poised to capitalise on new market opportunities with technology shifts such as 5G, which
operating profit or Ebitda of Rs 1,563 crore, down 9.2 per cent
substantial operational and financial metrics improvement with healthy cash flow generation this quarter
Chief Financial Officer. Total employee headcount of the company was at 1,30,839
IT attrition rate came in at 20 per cent, 100 bps lower than the corresponding quarter last year.