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HomeMarket NewsStocks NewsTech Mahindra Q3 Results: Profit misses poll, revenue and margins beat estimates
Tech Mahindra posted Q3 net profit of ₹1,122 crore below estimates, while revenue, EBIT, margins and constant currency growth came in higher than the CNBC-TV18 poll, with year-on-year revenue and operating performance improving despite a profit decline.
IT services company Tech Mahindra Ltd on Friday (January 16) reported a net profit of ₹1,122 crore in Q3, compared with the CNBC-TV18 poll estimate of ₹1,385 crore. Revenue for the quarter stood at ₹14,393 crore, higher than the poll estimate of ₹14,209 crore.
EBIT (Earnings Before Interest and Taxes) came in at ₹1,891.6 crore versus the poll estimate of ₹1,804 crore, while the operating margin was at 13.1%, above the estimated 12.7%. Dollar revenue for the quarter was $1,610 million, compared with the CNBC-TV18 poll of $1,593 million.
On a year-on-year basis, net profit declined 6% to ₹1,122 crore from ₹1,194.5 crore. Revenue rose 2.8% to ₹14,393 crore from ₹13,995 crore. EBIT increased 11.3% to ₹1,891.6 crore from ₹1,699 crore, while margins improved to 13.1% from 12.1% a year ago.
Dollar revenue grew 1.5% to $1,610 million from $1,586 million, while constant currency revenue growth stood at 1.7%, higher than the CNBC-TV18 poll estimate of 0.60%.
Shares of Tech Mahindra Ltd ended at ₹1,670.55, up by ₹82.05, or 5.17%, on the BSE.
