Tech Mahindra Q3 Results

Tech Mahindra Q3 Results: Total Headcount Stands at 157,068, Down 4.2% QoQ

Tech Mahindra Q3 results have been announced. Tech Mahindra reported the audited consolidated financial results for its quarter ended 31 December 2022. The company says that its revenue stands at $1668 million, which is up 1.8 percent quarter on quarter and 8 percent year on year. The revenue growth of the company stands at 0.2% QoQ in constant currency terms.

CP Gurnani, managing director and chief executive officer, Tech Mahindra, said: “We are witnessing moderation in growth given the tough macro economic environment. We will continue to work with our customers to pre-empt their technological requirements and identify new demand drivers, especially for digital services.” 

Tech Mahindra Q3 Result Highlights

Some of the other main highlights of the results other than those mentioned above are as follows:

  • EBITDA at USD 260 million, which is up 6.0% QoQ, down 5.9% YoY.
  • Profit after tax (PAT) at USD 157 million, down 1.0% QoQ and down 14.4% YoY.
  • Free cash flow stands at USD 31 million, and conversion to PAT at 20.0%.
  • Total headcount of the company stood at 157,068, down 4.2% QoQ.
  • Cash and cash equivalent stood at USD 780 million as of 31 December 2022.

Rohit Anand, chief financial officer, Tech Mahindra, said: “Our numbers reflect resilience as we continue to work on the expansion of operating margin. I am confident that our strategy of client centricity and agility combined with delivery led transformation will help us create value for our customers and stakeholders alike,” on the Tech Mahindra Q3 results.

Also read: Sudhir Nair and Suri Chawla from Tech Mahindra Discuss the Future of Cloud

Tech Mahindra also listed some of its key business wins that include partnerships with Swimming Australia, Airtel, Mindtickle, Basis Technologies, Foxconn-initiated MIH Consortium, Altice Labs, and SoftTech. The company also launched its Cloud BlazeTech, an integrated-sector-agnostic platform to maximize business value for cloud-powered enterprises globally.

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