Tech Mahindra’s Q1 Result: Net Profit Down By 16%

IT firm Tech-Mahindra reported a 16 per cent decline in its consolidated net profit after tax (PAT) for the first quarter (Q1FY23).

The PAT stood at INR 1,131.6 crore during the period under review compared with INR 1,353.2 crore in (Q1FY22).

Revenue for the quarter stood at INR 12,708 crore, up 24.6 per cent year-on-year over INR 10,197.60 crore in the corresponding quarter last year.

In the quarter ended 31 March 2022, Tech Mahindra reported an increase of 39 per cent in its consolidated PAT. In Q1 and Q3 EBITDA were Rs 1,497.70 crore and Rs 1.930 crore respectively.

Tech Mahindra MD & CEO “CP Gurnani”- said “We are starting this fiscal with a renewed commitment towards delivering consistent organic growth.

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