Tech Mahindra (TechM) has reported slightly better-than-expected revenue performance, showing a 0.8% quarter-on-quarter constant currency decline in Q4FY24. This was primarily driven by strong performance in the BFSI (Banking, Financial Services, and Insurance) vertical. The company also saw a notable 31% quarter-on-quarter growth in Total Contract Value (TCV), with an EBIT (Earnings Before Interest and…
Tech Mahindra Q4 results: Tech Mahindra experienced a significant decline in net profit for the quarter ending March 2024, with a 41% decrease compared to the same period in 2023. The net profit fell to Rs 664.2 crore in the last quarter, down from Rs 1125 crore in the March 2023 quarter. This decline resulted…
Sensex and Nifty: At around 10:00 am, the S&P BSE Sensex dropped 310.32 points to reach 72,832.48, while the NSE Nifty50 declined by 90.05 points to settle at 22,122.65. In short Nifty and Sensex open lower as IT stocks decline. Early trading sees a lot of volatility in markets. Paytm stock hits the upper circuit…
Tech Mahindra, the IT services and consulting firm, announced on Tuesday, February 20, that it has finalized the acquisition of a 100% stake in Orchid Cybertech Services (OCSI) via its wholly-owned subsidiary for a total of $3.27 million. In a regulatory filing, Tech Mahindra announced that its wholly-owned subsidiary, Customer Philippines Inc., has approved the…
Tech MahindraQ3 results: In dollar terms, revenue was $1,573 million, up 1.1% sequentially but down 5.7% year on year. In constant currency terms, Revenue increased 1.1% quarter over quarter but was down 5.4% year over year. In the December quarter, Tech Mahindra Ltd (TechM) recorded a 60.6% YoY decrease in net profit, amounting to Rs…
