Tech Mahindra’s consolidated net profit soared 153.1% year-on-year (YoY) to Rs 1,250 crore for the quarter ending September 30. The Tech Mahindra had posted a net profit of Rs 493.9 crore in the same month of the previous year. In July-September 2024 quarter, the total earning of the company stood at Rs 13,834 crore, compared with Rs 13,128 crore in the year-ago period.

According to Tech Mahindra’s regulatory filing, the company’s total expenses stood at Rs 12,122 crore in September quarter. The company’s total expenses were Rs 12,504 crore in September quarter of financial year (FY) 2023-24.

Tech Mahindra Quarterly Result: Interim Dividend Announced

Tech Mahindra has declared an interim dividend of Rs 15 per share for the investors. The company has designated November 1, 2024, as the record date for identifying shareholders eligible to receive the interim dividend. “We continue to progress on our strategic improvement efforts even as the overall IT services industry has remained soft,” said company CEO and MD Mohit Joshi. Her further added, “We have focused on strengthening client relationships and expanding the partner ecosystem while maintaining a sharp focus on operational excellence through project Fortius, which has resulted in an expansion of margins for the third sequential quarter.”

Tech Mahindra On Bourses

Tech Mahindra’s shares settled down in red on Friday, October 18, 2024. The company’s share were down 0.68% to settle at Rs 1,688 per share on BSE. Notably, Tech Mahindra has a market capitalisation of Rs 1,65,145.40 crore, according to the BSE data. The 52-week high of the company’s shares is Rs 1,709 per share came on October 17, 2024. The 52-week low is Rs 1,089 per share came on October 26, 2023.