Tech Mahindra Q4: Profit up 20% but headcount declines 1.33% at 147, 623 on reduction in IT and BPS workforce
Tech Mahindra posted 20.66% sequential rise in net profit for the fourth quarter of the fiscal at Rs 1,353.8 crore (Q3: Rs 1,122 crore), buoyed by healthy revenue growth and the absence of one-off expenses on account of new labour code provisions. by higher tax tech major announced on Wednesday. The net profit trailed Bloomberg estimates of Rs 1,511 crore.
Revenue for the quarter under consideration was up 4.74% sequentially at Rs 15, 076.1 crore (Q3: Rs 14,393 crore), beating Bloomberg estimates of Rs Rs 14,784 crore.
