Tech Mahindra net profit falls 16.4 per cent to Rs 1,132 crore in April-June

Mumbai: Tech Mahindra on Monday reported a 16.4 per cent slide in its consolidated net profit at Rs 1,132 crore for the June 2022 quarter.

The Mahindra group company, which is the fifth biggest IT exporter in the country, had posted a net profit of Rs 1,353 crore in the year-ago period.

For the reporting quarter, its revenue grew 24.6 per cent to Rs 12,708 crore as against Rs 10,198 crore in the year-ago period.

The operating profit slid 9.2 per cent to Rs 1,403.4 crore, and the operating profit margin narrowed to 11 per cent from 15.2 per cent in the year-ago period, the company said in its exchange filing.

It added 6,862 employees during the quarter to take its total headcount to 1.58 lakh.

"We remain resilient and watchful given the dynamic global macroeconomic environment and will continue to invest in new and emerging technologies to deliver differentiated offerings," its chief executive and managing director C P Gurnani said.

The company's scrip shed 1.15 per cent to close at Rs 1,016.55 a piece on the BSE on Monday, as against a correction of 0.55 per cent on the benchmark.