Tech Mahindra Q4 Results: Profit Rises 27%, But Misses Estimates

Tech Mahindra Ltd.'s consolidated net profit increased 27% in the fourth quarter of fiscal 2024, but missed analysts' estimates.

The IT services firm's bottom line stood at Rs 664 crore in the quarter-ended March 31, 2024, according to an exchange filing on Thursday. Analysts tracked by Bloomberg had projected it at Rs 745 crore.

• Revenue down 1.8% to Rs 12,871 crore (Bloomberg estimate: Rs 12,957 crore).

• EBIT down 9% to Rs 638 crore (Estimate: Rs 965 crore).

• EBIT margin at 7.5% versus 5.36% (Estimate: 7.4%).

• Net profit up 27% at Rs 664 crore (Estimate: Rs 745 crore).